MEXICO CITY — Mexico's private sector has drawn up a broad package of proposed energy investments for the government worth almost $92 billion, according to a document seen by Reuters on Wednesday, providing a potential lift to the country's misfiring economy.
With 275 projects from 2020 to 2024 encompassing everything from power generation, storage and transportation to exploration and production of natural gas, the 1.787 trillion peso ($91.5 billion) package could significantly influence the government's national energy plan, which is due to be presented soon.
The projects sketched out were the product of discussions between Mexico's business coordinating council (CCE) and dozens of energy companies, including Royal Dutch Shell PLC, Mexico's IEnova, a unit of U.S. firm Sempra Energy, France's Engie SA and Italy's Enel SpA, the document showed.
Under President Andres Manuel Lopez Obrador, Mexico has pursued a more statist approach to the energy sector, but some members of his administration believe attracting more private capital is vital for lifting growth.
CCE President Carlos Salazar and Antonio del Valle, head of the Mexican Business Council (CMN), submitted the investment plan on Monday to Alfonso Romo, chief of staff to Lopez Obrador, according to a person familiar with the matter.
Energy Minister Rocio Nahle told Reuters she would be analyzing the private sector plan with Lopez Obrador in the coming days. The projects are due to be privately funded.
A CCE spokesman said a range of energy projects and potential investment amounts were still under discussion.
Romo's office did not immediately respond to a request for comment. A CMN spokesman had no comment.
A source at IEnova said the company had "actively" worked with the CCE to compile feasible projects. Shell, Enel and Engie did not immediately respond to requests for comment.
Romo told a news conference on Tuesday the government was reviewing which projects would be part of the energy plan, and said Mexico needed to do more to encourage growth.