Hyflux And Banco Interacciones Sign MOU For Mexico Water Projects

Hyflux Ltd ("Hyflux"), through its wholly-owned subsidiary, Hyflux International Pte Ltd ("HIPL"), and Mexico's leading infrastructure bank, Banco Interacciones ("Interacciones"), a subsidiary of Grupo Financiero Interacciones, have signed a memorandum of understanding ("MOU") to jointly carry out exploration, structuring, pursuit and/ or installation of water and other projects and developments in Mexico.

Under the MOU, HIPL and Interacciones will cooperate and work with each other on a sole and exclusive basis to explore early stage and pre-specified greenfield water- related and infrastructure projects in Mexico that will leverage Hyflux's technologies and expertise in water and environmental solutions. Interacciones will use its experience and local network to introduce potential projects, investment opportunities and business partners to Hyflux, as well as provide equity or debt financing including coordinating institutional and government relations.

Carlos Hank González, CEO of Grupo Financiero Interacciones, pointed out that "this strategic alliance with Hyflux will allow both companies to take advantage of the many opportunities in the local infrastructure sector, further bolstered by the Mexican Government's ambitious plans and reforms related to its National Infrastructure Plan. We are excited by the prospect of combining Hyflux leadership in high-tech water solutions with Interacciones specialization in infrastructure projects."

"We are very happy to collaborate with Interacciones in a partnership that will open up a new market for Hyflux. Through this partnership, we will be able to tap on each other's expertise and resources to provide comprehensive and innovative water solutions for Mexico," said Ms Olivia Lum, Executive Chairman and Group CEO of Hyflux.

The MOU is not expected to have a material financial impact on Hyflux for the financial year ending 31 December 2014.

About Grupo Financiero Interacciones

Grupo Financiero Interacciones, S.A. de C.V. ("Grupo Interacciones" or "GFI"), is the largest specialized Mexican financial group with a business model focused on providing financing, risk management and financial advisory services mainly to the Mexican public sector, which includes federal, state and municipal governments, quasi-government entities and government suppliers. Grupo Financiero Interacciones conducts its business mainly through Banco Interacciones, the most important infrastructure bank in Mexico as well as through Interacciones Casa de Bolsa, its broker-dealer subsidiary, and Aseguradora Interacciones, its insurance company subsidiary. Grupo Financiero Interacciones is listed on the Bolsa Mexicana de Valores (Mexican Stock Exchange) under the symbol "GFINTERO".

Source

Media

Taxonomy

• Joint Venture
• Financing