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Mexico’s Pemex Inks Deal with Global Water Development Partners

1 December 2015

(Reuters) Global Water Development Partners, which is owned by Blackstone’s energy PE funds, has committed to invest up to US$800m in water treatment infrastructure projects for Pemex.

Mexico’s state-owned oil company Pemex has entered into a partnership with Global Water Development Partners (GWDP) that aims to invest $800 million in water treatment infrastructure projects, the Mexican company said in a statement on Monday.

The partnership will focus on storage and residual water treatment projects at Pemex oil production areas both onshore and offshore as well as at refineries and petrochemical plants, the statement said.

It was not immediately clear how much funding each entity would contribute, or which specific projects will be launched first.

GWDP was established last year by U.S.-based Blackstone Energy Partners, the firm’s energy-focused private equity business, and is owned by funds managed by the investment firm, according to Blackstone’s website. (Reporting by David Alire Garcia; Editing by Bernard Orr).