THE SIGNATURE WORK from Andres Manuel Lopez Obradorthe Dos Bocas refinery, entered a resizing phase due to lack of resources, which compromises the project and its start-up in this administration.
The President runs the risk of not seeing in his mandate the first liter of crude extracted from that plant, which will double its original cost in the midst of a budget drought that has already stopped payments to its contractors.
Since January, the Secretary of Energy of Dew Nahle ran out of money and the Ministry of Finance of Rogelio Ramirez de la O has not wanted to authorize new items to pay for the work carried out.
Since then the four main contractors have not been paid, read ICA-Fluor that heads Guadalupe PhillipsTechint of Paolo Roccasamsung leading gabriel parker and Project of daniel flowers.
In the last three months, Nahle has made drastic decisions: it has canceled the 98-kilometer branch that will connect the refinery with the so-called FA line at the Chontalpa station.
The construction and installation of the two monobuoys from where the ships will load and unload oil and derivatives, as well as the storage and distribution terminals, are also being dispensed with.
Likewise, everything indicates that the construction of the alkylation plant will be postponed, which serves to give the gasoline produced there a higher octane rating, which suggests that its quality will not be very good.
It is estimated that close to nine billion dollars have been invested so far and that another five billion still need to be invested to complete the mechanical completion, by August 2023.
And it’s not that jobs are late. The problem is that López Obrador put the noose around his neck: he set July 2 as the fatal date for the inauguration of Dos Bocas.
For that day there will be a ribbon cutting for the opening of the administrative area made up of 12 buildings, plus 91 tanks for gasoline, diesel, jet fuel, crude oil, intermediate products and water. Nothing more.
In August 2023, when the mechanical part is finished, the “commissioning” phase will begin, which is to put in conditions about 92 thousand pieces of equipment, pipe pressure, valve loads, etc.
The “commissionin”, as it is known in engineering jargon, takes from eight months to a year. In other words, if everything goes according to that roadmap, the first barrel of oil from Dos Bocas will come out around August 2024.
The tenant of the National Palace set the bar very high: according to him he was going to put a refinery into operation in four years, which is humanely and technically impossible. The international average is eight to 12 years.
Even so, if he manages to pose with a first liter of gasoline before the last month of his government, it will have been a world feat. But yes: next July 2 everything will be pure show.
WELL ABENGOA ENDS to collect from Pemex an outstanding account payable of almost 100 million pesos and took the money to Spain. There would be nothing irregular about this, if it were not for the fact that the resources should have been paid to his creditors, mainly individuals whom he defrauded with the issuance of Stock Certificates for 150 million dollars. After more than five years of litigation with investors and banks such as Base de Lorenzo Barrera, Bx+ de Anthony of the ValleyInvest of John Guichard and Banorte of Carlos Hank GonzalezMainly, the Sixth Bankruptcy Judge lifted the embargoes. What happened? That the Iberian firm led by John Manuel Valladolid went to negotiate a month ago with the pupils of Octavio Romero the payment, they liquidated it and left with the money.
ALTAN NETWORKS SE is running out of liquidity. Last month marked one year that the operator of the shared network that he directs Salvador Alvarez showed the first signs of financial exhaustion. Twelve months later, the issue already worries the Q4 government a lot due to the high exposure of Bancomext and Nafinsa, which commands Luis Antonio Ramirezand Banobras, of jorge mendoza. The most applied in which the company achieves a new credit in the possession of the debtor (DIP) is Carlos Lermathe head of the office of the secretary of the Treasury, who has taken the lead in the talks with the restructuring committee formed by Rothschild, which lead to the Daniel Nikolayevsky Y Victor Leclercqin addition to Cesar Urrea Y Joseph Cabreraby the troubled dealership.
ANOTHER COMPANY OF telecommunications that also emerged at the edge of the six-year term of Enrique Pena Nieto, and that like Altán is going through financial difficulties to such an extent that it is already for sale, it is La Octava. The project with which Francis Aguirre returned to television is looking for a new investor. I just informed him that it was offered to Angel Ghost Gonzalez of Albavision. Also to Olegario Vazquez Aldir of Image Group, Angel Mieres of the Herald Media Group already Joaquin Vargas from MVS, but all declined. Apparently Aguirre’s claims are very high. From 500 million pesos he went down to 430, but not like that. The market is not for those multiples.
THE ATTORNEY GENERAL’S OFFICE of the Republic, which commands Alejandro Gertz Manero, extended the deadline for receiving bids for the construction of its new headquarters building, at number 1375 on the Mexico-Toluca highway, for another ten days. The nine participants were summoned for May 13, but now it has been extended until the 23rd of this month. Only Idinsa presiding Victor Ortiz and Prodemex that heads Olegario Vazquez Aldir adjusted to the original times. The contract is to finish developing 32,000 square meters of construction, which is a structure that was left in the dark, plus an expansion of 10,000 square meters of new construction. The positions are estimated to fluctuate between 800 million and one billion pesos.
SO NOTHING, WHAT some members of the Board of Directors of Homex have already processed amparos to prevent themselves from any criminal action by Bancomext, which directs Luis Antonio Ramirez. They do not want to follow the same fate as Eustace of Nicholas, who was apprehended 14 days ago at the Guadalajara airport when he arrived from Madrid. Yesterday a source who was close to the financial restructuring of the housing developer told us that the directors Jose Manuel Canal, Ernest Valenzuela, william crombie, Antonio Manuel Davila Y Samuel Suchowiecky they were appointed after the restructuring was signed, so they should not have any responsibility. Those exposed would in any case be those designated between 2012 and 2014.
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