Grupo Financiero Banorte of Mexico will form a $3 billion infrastructure fund within a few months with a North American partner, Chief Executive Officer Jose Marcos Ramirez said on Thursday.

“We’re very conscious that the future is in infrastructure, despite the price of oil,” Ramirez said at banking conference in the Mexican beach resort of Acapulco, adding that he expected to launch the fund within the bank’s pension fund arm.

According to Reuters, one source said a Mexican institutional investor planned to create a joint fund to invest up to several billion dollars in domestic infrastructure projects.

Mexico Infrastructure Projects Forum 2015 in Monterrey Nuevo Leon