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The new refinery being built in Mexico, Olmeca, will cost between 11,000 and 12,000 million dollars, the president admitted this Friday morning. Andres Manuel Lopez Obrador.

The cost of the work is above the 8,000 million dollars that the Government said it would cost three years ago, when the work began.

The president assured that the cost is within the estimate and approved by the Board of Directors of the oil company PemexHowever, according to documents seen by Reuters, the 12,000 million dollars is the upper range of an estimate in the initial stages of the work, which was budgeted and approved for 8,900 million dollars.

AMLO said the refinery, located in two mouths -in the state of Tabasco- will be at full production in 2023, after testing.

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