The investment is US$5.5bn.The Lázaro Cárdenas refinery upgrade project called for the construction of 11 processing plants, integration works and auxiliary services to produce higher value fuels. By its completion in 2012, it increased the refinery's current treatment capacity from 175,000b/d to 246,000b/d, and processing of heavy Maya crude increased to 71% from 33%. More than 15,000 temporary jobs were created during the construction phase. The refinery is operated by Pemex Refinación, the refining subsidiary of Mexican state oil company Pemex. Emilio Lozoya Austin, Pemex's CEO, announced in February 2015 that certain projects at Lázaro Cárdenas will be postponed, as well as other activities related to the Ultra-Low Sulphur Diesel project in Mexico's refining system. Nonetheless, in March, the Spanish firm Técnicas Reunidas obtained a US$800mn contract for works at Lázaro Cárdenas.