Mexican state electric utility Comision Federal de Electricidad, or CFE, said a consortium including Spain's Grupo Cobra and Grupo ACS has won a contract to upgrade the Manzanillo power plant with a bid of $981.3 million.

CFE said in a press release Thursday that others bidding for the project included Iberdrola SA (IBDRY) and Isolux.

The project to repower the Manzanillo plant is part of a plan to develop energy infrastructure in western Mexico, which includes the construction of a liquefied natural gas terminal at Manzanillo and a natural gas pipeline from Mazanillo to Guadalajara, Mexico's second-largest city, the CFE said.

Repowering of old generating stations involves upgrading them to improve efficiency and increase capacity.

-By Anthony Harrup, Dow Jones Newswires; (5255) 5980 5176, anthony.harrup@dowjones.com
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