The board also authorized the sale of the Brazilian company's last coal mine in Australia, according to sources familiar with the matter.
The fund will benefit infrastructure investments over the next five years.
Mexico's energy reform will help the country reverse falling oil production and provide a 'substantial boost' to clean energy efforts in the power sector, according to the International Energy Agency (IEA).
Cement production slid 6.5% to 496,800t from a year ago when emergency spending peaked ahead of the El Niño phenomenon.
The newest subsidiary of Mitsubishi Heavy Industries Compressor Corporation (MHI) launched its operations in Brazil last month ahead of an expected jump in demand for centrifugal compressors from state-run oil company Petrobras.
José de Sá, a partner at consultancy firm Bain & Company, speaks to BNamericas about legislation that lifts restrictions on foreign firms in one of the world's most important new oil and gas frontiers.