- 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.
WASHINGTON, Dec. 12, 2014 (GLOBE NEWSWIRE) -- 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.
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)
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Patricia Malo de Molina Meléndez.
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Bárbara Zubiría Furest.
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