The Spanish Government offers $50 million to Elecnor to build a pipeline in Mexico
The Government has granted a loan of $ 50 million to finance the construction of a gas pipeline in Mexico, whose concession has been granted to the Spanish infrastructure company Elecnor.
As decided by the Cabinet today, the refundable credit from the Fund for the International Company (MSIF) and will involve further twelve other Spanish companies that participate indirectly in Mexico in the project entitled “Pipeline Morelos.”
This plan will generate approximately $ 55 million by the volume of Spanish exports induced, and that are linked to the equipment required for project implementation.
The Government emphasizes that it is the first loan granted to an investor FIEM private Spanish international market conditions, adding that open doors to the presence of Spanish companies in Mexico, a key market for our first market in Spain and Latin America.
This is the construction and operation under concession of a pipeline that will service transport natural gas to the Federal Electricity Commission (CFE) of Mexico, under a service contract to 25 years.
The pipeline, 160 km long, crosses the Mexican states of Tlaxcala, Puebla and Morelos.
The amortization of the loan is for a maximum of 18.5 years.
To formalize the contract was negotiated a total credit of $ 200 million, 100 bank Banobras Mexican public, 50 private bank Banamex-Citigroup and 50 covering the FIEM reimbursable loan conditions and thus ensuring that the operation does not create deficits.
Category: Investing
