Valores Quimicos , a subsidiary of Mexican industrial conglomerate Cydsa (MXK:CYDSASA) has signed a loan for a $50 m contract this week to finance a steam powered cogeneration project.

The loan was extended for five years by Cooperatieve Centrale Raiffeisen-Boerenleenbank BA (Rabobank Nederland), New York Branch, according to a statement by Cydsa to the Mexican stock exchange.

The project is located in the Coatzacoalcos municipality in Veracruz State, Mexico.

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