Mexico's IEnova will invest US$800 million in 2017 on eight projects: CEO

Mexican energy infrastructure firm IEnova, a unit of U.S.-based Sempra Energy, will invest US$800 million this year on eight projects, the company's chief executive said on Monday.

Carlos Ruiz Sacristan said the most important project is an underwater pipeline between Texas and the Mexican Gulf port of Tuxpan. That project will require a total investment of US$2 billion, and will be developed with TransCanada Corp.

Speaking at an event at Mexico's stock exchange, he said IEnova will invest US$500 million in the pipeline project.