MEXICO CITY May 28 Mexico's national oil
company Pemex said on Wednesday it is in the final stages of
negotiating to form an investment fund with two Chinese
companies that could eventually finance up to $5 billion in
Pemex energy infrastructure projects.
The fund created by Pemex as well as Xinxing
Ductile Iron Pipes and SPF Capital Hong Kong Limited
will start with $1 billion and expects to finance up to an
additional $4 billion in energy projects, Pemex said in a filing
with the Mexican stock exchange.
The company did not detail when the fund will launch or any
specific energy infrastructure projects it would finance.
A Pemex representative said the negotiations are nearly
complete and a deal was close.
Mexico's Congress passed a sweeping energy reform late last
year championed by President Enrique Pena Nieto that promises to
lure billions of dollars in new investment into the country's
struggling oil, gas and electricity sectors.
So-called secondary laws needed to implement the reform and
spell out key regulatory details are expected to be taken up by
lawmakers in a special session next month.
(Reporting by Adriana Barrera; Editing by Lisa Shumaker)