The Power of Pidiregas
Mexico's off-balance sheet financing scheme got the massive El Cajón dam project underway.
Mexico's El Cajón
hydroelectric dam, located in the western state of Nayarit, is
the largest and most complex infrastructure project yet to
raise financing under the government's Pidiregas
guarantee program. ICA, the Mexican construction group, is
leading a consortium building the two-unit 750 MW dam that is
four meters taller than the Latinoamericana tower in Mexico
City, one of the largest buildings in the world.
ICA must comply with specifications laid down by the
government's CFE power monopoly and upon completion in 2007,
CFE will assume operation of the dam and pay the consortium in
two installments. CFE will pay the first, 60% tranche at...
Already have an account?
Subscribe now for unlimited access to all current and archive news, data and market analysis.
Take a free two-week trial now for the latest news, data and market analysis.