TransCanada Awarded Contract to Build $500M Natural Gas Pipeline Extension in Mexico
TransCanada Corporation (NYSE: TRP) today announced that it will build, own and operate the Tamazunchale Pipeline Extension in Mexico. Construction of the pipeline is supported by the award of a 25-year natural gas transportation service contract by the Comision Federal de Electricidad, Mexico's state-owned power company.
TransCanada expects to invest approximately US$500 million in the pipeline and anticipates an in-service date in the first quarter of 2014. The project will be 235 kilometers (146 miles) long and have contracted capacity of 630 million cubic feet a day (MMCf/d). The pipeline will use a combination of 30- and 36-inch-diameter pipe and have 37 megawatts of installed compression.
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