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General Electric signs $330 million USD deal in Mexico

Mexico City, Mexico — Multinational company General Electric has signed an agreement with the consortium formed by Macquarie Capital and Techint for maintenance and operation of the power plant North III, located in Ciudad Juárez, Chihuahua. The two contract deal totals $330 million USD.

In a statement, the company said that there are two contracts valued at $330 million USD, which will last for 25 years.

“Macquarie continues to look for opportunities to take advantage of the global experience in infrastructure, energy and project financing to address highly complex situations and develop creative solutions that work for all concerned, as was the case with Norte III,” said Rob Kupchak, head of infrastructure and energy for Macquarie Capital.

At the beginning of 2015, the Federal Electricity Commission (CFE) commissioned the development of a combined cycle power plant just south of Ciudad Juárez, Chihuahua, to help meet the region’s growing need for electricity.

The zone of that state is identified in the PRODESEN 2017-2030, the 15-year infrastructure development program for Mexico’s national electricity system, as a “deficit node,” given the expected growth over the next decade.