en.Wedoany.com Reported - Mexico's state-owned oil company Pemex plans to invest 93 billion Mexican pesos (approximately $5.3 billion) by 2030 to restart some of its petrochemical and fertilizer plants, with the fertilizer segment aiming to increase production nearly tenfold.
Mexican President Claudia Sheinbaum stated at a routine press conference at the Coatzacoalcos petrochemical complex in Veracruz state that the funds will be provided by both public and private capital, but no concessions will be granted to private partners. She noted that the design of this plan is fundamentally different from the public-private partnership models of previous administrations.
Pemex CEO Juan Carlos Carpio Fragoso, alongside Energy Minister Luz Elena González, presented the plan. Carpio stated that the company's goal is to achieve an annual petrochemical production of 849,000 tons and annual fertilizer output exceeding 4 million tons. He remarked that Mexico has neglected its petrochemical industry for decades, leading to reliance on imports and missing opportunities to add value to hydrocarbon-related products; reactivating these facilities helps restore domestic production, strengthen the national and food industries, reduce supply chain vulnerabilities, and promote employment.
The 93 billion peso investment is divided into five independent projects, each targeting specific clusters of existing or new infrastructure in Veracruz state. The largest single expenditure is 30 billion pesos, allocated to repair five units and their auxiliary facilities at the Cangrejera and Morelos petrochemical complexes, focusing on the ethane-ethylene chain and the production of polyethylene (PE), ethylene oxide (EO), and ethylene glycol, with an expected annual capacity of 520,000 tons.
Next is an 11 billion peso aromatics project, which will restore eight units at Cangrejera to resume production of benzene, toluene, xylene, hexane, and heptane, with an expected annual capacity of 329,000 tons. Another 13 billion pesos will be used to repair two ammonia units at the Cosoleacaque complex (one of the country's largest), with an expected annual capacity of 957,000 tons. The Fertinal-ProAgro project will receive 13.7 billion pesos to repair fertilizer facilities at the Lazaro Cardenas and Coatzacoalcos complexes, targeting an annual production of 2.4 million tons of urea and phosphate fertilizers.
The only facility to be built from scratch under this plan is the Escolin plant in Poza Rica, where Pemex will construct a new ammonia and urea unit with an investment of 25 billion pesos, expected to produce approximately 708,000 tons of granular urea annually. Carpio stated that, combined, the plan will bring the total capacity of the Morelos, Cangrejera, and Cosoleacaque complexes to 1.8 million tons per year, while the fertilizer projects (including repairs to existing plants and the new Escolin facility) will reach 2.4 million tons per year. He emphasized that strengthening the value chain in the petrochemical and fertilizer sectors is not only an operational goal but also a cornerstone of Mexico's food security and sovereignty, and that the future of these industries requires innovation, efficiency, and a strategic vision focused on the well-being of current and future generations.
Sheinbaum noted that the petrochemical and fertilizer investments are part of a total federal expenditure of 190 billion pesos in Veracruz state by 2030, with the remaining funds allocated to highway construction and maintenance, drinking water infrastructure, river restoration, and medical facilities. Mexico's chemical trade organization ANIQ previously stated that a strong and healthy Pemex is crucial for the development of Mexico's chemical industry; as of press time, ANIQ had not responded to a request for comment. ($1 = 17.44 pesos)
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