More than 12 thousand jobs were lost at the beginning of the year in the industrial zone of Ciudad Sahagún, Hidalgo, Mexico. Here, micro, small and medium-sized enterprises, which depended on the most important companies located in the area, such as Bombardier and Greenbrier, operated at thirty percent of their capacity.
In support of this, the company “Energía del Valle de México (EVM)” announced that it has been delivering more than 450 aid packages to families in the communities of Hidalgo and the State of Mexico. In places such as La Mocha, Tecuautitlán Atla, Jaltepec and Xala. Resulting in the benefit of approximately 1,800 people. The aid packages include food, advisory on the improvement of residential properties, medical located services, and in-kind support.
“At the moment of knowing the adverse effects, we made the immediate decision to increase investments in social support; it is of great importance for us to be able to support the region where we generate jobs particularly”, noted Mauricio Quintanilla Hernández, member of the EVM board. EVM Energía inaugurated its 850 MW combined cycle power plant, located within Axapusco, in the State of Mexico, Mexico.
The development of the plant was carried out through a financing arrangement of 740 million dollars, where several of the most important banks and investment funds in the world took part, such as Citi, BNP Paribas, SMBC, the Banco Nacional del Comercio Exterior, and more than a dozen institutional investors.
The Sherman & Sterling law firm represented EVM II, and the international law firm Paul Hastings advised EVM as the sponsor of the agreement. According to the information given, such a hybrid financing structure as this can entail $500 million in securities and up to $125 million in direct loans.
"It is essential that organizations have a direct link with the civil society; let’s seek to move forward to face this great health and economic challenge," added Manfred Mauricio Quintanilla Hernández finally.