INVEX Infraestructura 4 purchases port terminal in Tuxpan, Veracruz
Clients Grupo Simsa, S.A. de C.V.
Jones Day advised INVEX Infraestructura 4, S.A.P.I. de C.V. and one of the largest midstream service companies in Mexico in the purchase of the entire stock of Compañía Terminal de Tuxpan, S.A. de C.V. ("CTT"), holder of a Partial Assignment and Assumption Agreement (Contrato de Cesión Parcial de Derechos y Obligaciones) executed with the Administración Portuaria Integral de Tuxpan, S.A. de C.V. in connection to a port terminal at the Port of Tuxpan, Veracruz. The privately owned port terminal will provide reserved capacity to their clients in order to avoid delays and demurrage in the unloading of the vessels. The acquisition of CTT is Phase I of the Tajín System. The Tajín System will consist of a port and storage terminal in Tuxpan and a storage terminal in Tula with a combined total (expandable) storage capacity of 1.2 MMbbls and a petroleum products (gasoline, ULSD, jet fuel) transportation 24” diameter pipeline with an initial transportation capacity of 120,000 bpd connecting the Tuxpan and Tula terminals (aprox. 260 km). The Tajín System will provide confidence to clients in the handling, storage and transportation of their products.