US refiner Valero aims to invest $200 million in Mexico

Investors at an energy expo in Mexico City last week got a sneak peek at San Antonio-based Valero Energy’s plans to spend $200 million building new fuel storage across the border.

Valero executives at the Onexpo conference May 17-19 said their investment would pay for 1.6 million barrels of storage in three locations. The largest terminal would store 925,000 barrels in the Gulf Coast city of Altamira in Mexico’s Tamaulipas state and would supply refined fuels into Mexico, according to reporting by Mexican newspaper Milenio.

Source: MySanAntonio