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Feb 1, 2004 12:00 PM

The consortium formed by Ishikawajima-Harima Heavy Industries (IHI) and ICA Fluor has entered into a lump-sum, turnkey agreement with Terminal de LNG de Altamira S de RL de CV, for the construction of the first Mexican liquefied natural gas (LNG) regasification terminal. The contract value for the consortium is approximately US $250 million.

This facility, to be built in the port of Altamira, Tamaulipas, on Mexico's Gulf coast, will have an initial capacity of 650 million cubic feet per day, with provisions for future expansion.

The project will be constructed over 36 months and includes design, engineering, procurement, construction, and start-up services. IHI is the consortium representative and the technical leader. ICA Fluor will act as overall project manager and provide all local services. The facility will include LNG unloading and ship berthing facilities, storage consisting of two 150,000 cubic meter double containment LNG tanks, regasification, send-out installations, and all related utilities.

The engineering for the project will be done mainly in Mexico and will create regional employment opportunities for some 1,500 construction workers at the peak.

Terminal de LNG de Altamira is a joint venture company owned by the Royal Dutch/Shell Group and the Total Group.