Blackstone’s private equity funds have entered an infrastructure joint venture in Mexico with Petróleos Mexicanos (PEMEX).
Global Water Development Partners, managed by Blackstone, will invest with PEMEX in water and wastewater infrastructure.
Blackstone’s Energy Partners created GWDP last year to invest in companies in need of capital.
Jose Manuel Carrera, general director of PEMEX, said the partnership would enable it to focus its financial resources on its core business.
“In addition to providing a source of financing, the partnership will facilitate access to the industry’s most advanced technology and integrated full-service water systems for all of PEMEX’s water supply and wastewater-treatment needs at both its onshore and offshore oil production facilities, refineries and petrochemical plants,” Carrera said.
PEMEX has six refineries, eight petrochemical complexes and nine gas-processing complexes.
The firm also has 83 land and maritime terminals, along with oil and gas pipelines and maritime vessels.