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PEMEX plans to form energy fund with Chinese firms

PEMEX is reportedly in the final stages of negotiating to form an investment fund with two Chinese companies that could eventually finance up to $5 billion in PEMEX energy infrastructure projects, Reuters said.

The proposed fund, which is to be created by PEMEX, Xinxing Ductile Iron Pipes, and SPF Capital Hong Kong Ltd. will start with $1 billion and is expected to finance up to an additional $4 billion in energy projects, according to the Reuters report.

A PEMEX representative said that a deal was close with the Chinese companies, but no further details were disclosed.

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