McDermott’s Altamira facility becomes free trade zone
McDermott International, Inc. has received authorization from the Central Administration of Customs in Mexico to operate its Altamira fabrication facility near Tampico, Mexico, as a free trade zone.
The first fabrication facility licensed to operate as a free trade zone in Mexico, Altamira is a focal point for fabrication on the Gulf of Mexico coast, serving both PEMEX domestic requirements and export work for international clients.
“The benefits of operating as a free trade zone to McDermott’s international clients is through the ability to import components, construction materials and equipment cost-effectively, to provide a competitive alternative to U.S. and other fabrication facilities,” said Dominic Savarino, Vice President and General Manager, Americas.
McDermott says that the improved construction environment supports the execution of larger and more complex projects from within Mexico, enabling the company to better serve its clients through a top-tier fabrication facility, with a highly skilled in-country workforce, and proximity to good transportation infrastructure that supports the further development of the local economy.
“With the Mexican energy reform potentially opening up the Mexican market, PEMEX will require expertise from international energy majors for field development, as well as engineering and construction contractors such as McDermott.
“Equipped with the necessary technology, solutions and expertise to supply the market with the right people, assets and technology for economical and safe deep-water solutions, McDermott’s Altamira free trade zone fabrication facility is firmly positioned to support international clients and the domestic Mexican market as it expands into deep water and complex projects.
“As Mexico becomes an established energy center, the benefits from hydrocarbon production will have a multiplier effect, providing opportunities for jobs in the country and growth for the local economy to accelerate domestic wealth,” said McDermott in a statement.