Hyflux signs MOU for projects in Mexico
WATER treatment firm Hyflux, through its wholly owned subsidiary Hyflux International, has signed a memorandum of understanding (MOU) with Banco Interacciones, Mexico's leading infrastructure bank, to collaborate on water projects in Mexico.
The move - Hyflux's first serious foray into Latin America - could see at least three projects this year and more than 200 over the next five years.
Gerardo Salazar Viezca, chief executive officer of Banco Interacciones, said: "This alliance represents a market potential of advising, constructing and operating no fewer than three projects this year, (and) no fewer than 200 projects in the next five years."
Projects could range between US$10 million (S$12.5 million) and US$150 million in value.
Hyflux's executive chairman and group CEO, Olivia Lum, was at the signing ceremony yesterday.
Under the MOU, both companies will collaborate and work with each other on a sole and exclusive basis.
"The fields of cooperation include, but are not limited to, equity and debt financing, institutional and government relations, and direct investment together, primarily in early-stage and pre-specified greenfield projects," said Ms Lum.
Banco Interacciones will use its experience and local network to introduce potential projects, investment opportunities and business partners to Hyflux.
Ms Lum said: "We are already working very hard together on at least two projects now. We hope to be able to bring good news to the investing community."
THE BUSINESS TIMES