Sino-Mex Energy Fund bolstered
MEXICO CITY, November 13, 2014 – Last Thursday, the Sino-Mex Energy Fund, the largest Chinese investment fund in both Mexico and Latin America, gained an additional commitment of $150 million from Chinese drilling equipment manufacturer Honghua Group. Established on October 20, 2014, the energy fund’s financial objective is to reach $5 billion in 25 years, with the first phase targeting $1 billion.
Sino-Mex members include Pemex’s offshore subsidiary PMI Holdings, as well as Hong Kong-based pipe manufacturer, Xinxing Ductile Iron Pipes. The fund’s purpose is to help finance exploration and production activities as well as the construction of energy infrastructure activities.