Glencore to invest in Mexico fuel retail market

Commodities producer and trader, Glencore, reportedly plans to invest in the Mexican petrol station market with a $200 million joint venture with Mexican fuel stations and a 15-year gasoline and diesel supply deal, according Bloomberg.

Sources told Bloomberg that Glencore would create a new franchise brand together with G500 Grupo Gasolinero, a local alliance of petrol stations, and spend on terminals and storage.

Glencore will also supply 180,000 barrels per day of gasoline and diesel to 1,400 stations.

The company declined to comment.