Abengoa Completes Its Non Recourse Long Term Financing for the El Zapotillo Aqueduct in Mexico
December 12 2014 - 3:20AM
- The total investment in the project is US$ 640 million, to be
developed in a 3-year construction term and a 22-year operation
period.
- The Infrastructure National Fund (Fonadin) and National Works
and Public Services Bank (Banobras) have invested US$ 487 million
in a non-recourse project finance format.
Abengoa (MCE:ABG.B/P SM)/(Nasdaq:ABGB), the international company
that applies innovative technology solutions for sustainability in
the energy and environment sectors, has closed a long term
non-recourse finance deal with the Infrastructure National Fund
(Fonadin) and National Works and Public Services Bank (Banobras)
for the construction, operation and maintenance of the El Zapotillo
Aqueduct.
The total investment in the project is approximately US$ 640
million. Of this, 48.44 % will be contributed by the National
Infrastructure Fund while the remaining 51% will be funded by a US$
177 million non-recourse credit and Abengoa's equity participation.
The US$ 487 million financing provided by the Fonadin and Banobras
will replace the existing bridge facility of US$ 296 million (€ 238
million) included as non recourse debt in process.
The agreement consists of a 25 year concession to provide
services for drinking water treatment, transport and water
distribution from the El Zapotillo dam to the city of León and
various other communities, including the municipalities of Los
Altos de Jalisco such as Cañadas de Obregón, Jalostotitlán, San
Miguel el Alto, San Julián, Encarnación de Díaz, San Juan de los
Lagos, San Diego de Alejandría, Lagos de Moreno, Unión de San
Antonio, Valle de Guadalupe and Villa Hidalgo.
This new project will consolidate Abengoa's experience of water
pipelines, applying its extensive knowledge of developing water
infrastructures by using innovative technology solutions, thereby
contributing to solving the serious issue of water scarcity, while
promoting the development of the areas and sector that it
supplies.
Similarly, Abengoa keeps investing and consolidating its
leadership position in the energy and environment sectors in
Mexico, where it has been developing innovative technology
solutions since 1979 and where it already has extensive experience
in carrying out projects with the Mexican government and the
private sector.
About Abengoa
Abengoa (MCE:ABG.B/P SM)/(Nasdaq:ABGB) applies innovative
technology solutions for sustainability in the energy and
environment sectors, generating electricity from renewable
resources, converting biomass into biofuels and producing drinking
water from sea water. (www.abengoa.com)
Communication Department: Patricia Malo de
Molina Meléndez. Tel. +(636) 532-2111 E-mail:
communication@abengoa.com |
Investor relations: Bárbara Zubiría Furest.
Tel. +(636) 532-2111 E-mail: ir@abengoa.com |