The joint venture, known as IMG, said on Monday that it had secured the award for the 800-kilometre (497-mile), 42-inch diameter Sur de Texas-Tuxpan pipeline in Mexico.

TransCanada said it will develop, operate and own 60% of the project, with IEnova owning 40%. The pipeline is expected to be in service by late 2018.

The pipeline will originate in the Gulf of Mexico at the border point near Brownsville, Texas, and terminate in Tuxpan, in the Mexican state of Veracruz.

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