RT Journal Article SR Electronic T1 Development of the Mexican Water Sector JF The Journal of Structured Finance FD Institutional Investor Journals SP 53 OP 61 DO 10.3905/jsf.1999.320221 VO 5 IS 3 A1 Edward J. Sondey A1 Neel A. Shah YR 1999 UL https://pm-research.com/content/5/3/53.abstract AB Pemex Refinacion has bid out to private sector consortia five build-operate transfer (BOT) concessions for wastewater treatment facilities. Through sound project structuring, refinacion has leveraged the financing skills of private developers and achieved reliable, low-cost treatment services. At the same time, private companies have received attractive EPC and O&M contracts and investors have received satisfactory project returns. Municipal projects in Mexico can follow on this success if sponsoring cities and the national government can follow the example of Pemex Refinacion and rationally allocate risks with the private sector.