Santander Mexico Forecasts U$13.5 Billion In Pipeline And IPP Combined Cycle Power Plant Investments
Planned investments in Mexico over the next 12 months for pipelines and IPP combined cycle power plants are estimated at U$13.5 billion according to Santander Bank’s Alejandro de la Vega Solorzano, Director of Energy and Oil and Gas for Santander Mexico, who presented the forecast and the industry’s impact on Mexico’s economy.
The percentage of these investments in which Santander Bank will participate in financing was not disclosed. However, Santander has made public announcements recently regarding its commitment to investing in Mexico’s energy projects that will result from recently enacted energy reforms. Banco Santander executive chairman Ana Botin said the Spanish banking giant planned to invest $15 billion in Mexico over the next three or four years to finance infrastructure projects and the expansion of small- and mid-sized businesses.
“Santander’s commitment is to invest $10 billion in the next three years to four years in the infrastructure area in Mexico and to invest an additional $5 billion in lending” to small- and mid-sized businesses, Botin was quoted during a press conference in December 2014 in Mexico City.
Santander is ready to finance projects in the telecommunications and energy sectors, as well as in other industries opened to investment, Botin said.
Financial institutions will play an increasingly important role in promoting projects that will have effects on the entire economy in the wake of the structural reforms approved by the government and Congress, Botin said.Older postNewer post