Mexican Company to Build and Operate Treatment Plant for Pemex

Mexican conglomerate Cydsa SA has been awarded a $40 million contract from the state-owned oil company Petroleos Mexicanos (Pemex) to build and operate a wastewater treatment plant.

The Minatitlan facility, in Veracruz state, is the fourth such contract that Cydsa's subsidiary Atlatec has won from Pemex. Atlatec already has invested about $105 million in the three other plants in Nuevo Leon, Tamaulipas and Hidalgo states.

Describing the agreement, a Cydsa statement said the latest contract is for 12 years. The project will be financed 25% through the company's own capital, which will be supplied by Cydsa and it's U.S. partner Poseidon Resources Inc., and 75% through international credit.