Odebrecht plans US$ 8.1 billion Mexico investment

Privately-held Brazilian conglomerate Odebrecht has agreed a deal with Mexican President Enrique Peña Nieto that will see it invest US$ 8.1 billion in Mexican energy and infrastructure projects over the next five years.

President Peña Nieto met with Odebrecht CEO Marcelo Odebrecht to secure the deal. Odebrecht plans to target investments in Mexico’s petrochemical, sanitation and hydropower sectors, as well as biomass energy and road concession projects.

US$ 1.8 billion of the planned investment has already been paid out, according to a statement from the President’s office.

President Peña Nieto took office in December last year. He has introduced a bill that could open up the state-run energy sector to more private investment.

Odebrecht has businesses in the infrastructure, real estate, oil and gas, energy and agricultural sectors. It recorded revenues of US$ 41.3 billion in 2012.