MEXICO - Energy & Mining
Giacomo Bonfanti is CEO of GDI. He has expertise in market development, contract management, and strategic initiatives.
Giacomo Bonfanti, CEO of GDI, talks to TBY about a recent restructuring, international markets, and the Mexican energy sector.
What is your company’s new vision having recently completed its restructuring?
Giacomo Bonfanti: We were formerly focused on pipelines and mainstream facilities, including storage terminals for gasoline, pipelines for oil and gas, and infrastructure needed to build underground infrastructure. Part of the vision is to develop this trenchless division into an international entity. We are looking at working on oil and gas pipelines, drainage infrastructure, and power cables for electricity generation. GDI has identified an opportunity for underground projects in the energy and mining industries as the world is currently focused on reducing the environmental impacts of the sector and these types of projects can minimize the impact these developments have on the planet. However, providing clean infrastructure is particularly challenging. During COVID-19, we took the time to create an alliance with top global companies in the sector. As a consequence, we are now extremely well equipped to be a trenchless EPC for the region in the short term.
Which international markets are you focused on entering?
Giacomo Bonfanti: GDI is focusing on markets in Latin America, a region that is attractive for the oil and gas industries. We specialize in creating connections between the sea and the land, which often features projects such as urban drainage. We are prospecting work in Colombia, Mexico, and Panama and are evaluating projects in the US. Drainage is also a solid opportunity for international growth. However, in 2023, there will be many local projects, mainly in the southeast of the country. We are keen, for instance, to expand our mining operation as new mines will be developed in the coming years with the arrival of greater stability. Most contractors do not own their equipment, while GDI does. We have a plan to develop these mines in the short term. For example, the delivery time for key mining equipment is about 54 weeks. We have equipment, we have people and we want to move fast.
What are the main advantages Mexico offers the energy sector?
Giacomo Bonfanti: North America has the advantage of being compromised of three countries, while Europe has a lot, each having a different fiscal regime and one central bank. Their gas comes from sources with certain geopolitical tension. Meanwhile, we enjoy energy stability (compared to other regions). Mexico shares a big part of the gas reservoir of the region. We predict that most of the energy transition will involve gas. The war in Ukraine will also have an effect on renewables, but we believe renewables will be on the back burner for the time in Mexico as the country has major issues to deal with when it comes to security and equality.
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