ICA Acquires the Barranca Larga-Ventanilla Tollroad Concession in Oaxaca
Empresas ICA, S.A.B. de C.V.
16.04.2012 14:00
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MEXICO CITY, 2012-04-16 14:00 CEST (GLOBE NEWSWIRE) --
Empresas ICA, S.A.B. de C.V. (BMV:ICA) (NYSE:ICA), the largest engineering,
construction, procurement and infrastructure company in Mexico, announced that
it acquired the concession for the Barranca Larga-Ventanilla tollroad in the
state of Oaxaca through a wholly-owned subsidiary. The concession agreement
with the Ministry of Communications and Transportation (SCT) includes the
construction, operation, exploitation, and maintenance of the 104 km tollroad
for a term of 30 years.
Total investment in the project will be approximately Ps. 5,352 million. The
contract will be included in ICA's construction backlog during the second
quarter of 2012 and is expected to be completed in 24 months. The development
bank Banobras and the National Infrastructure Fund (FONADIN) will be
participating in the financing. The acquisition is subject to customary
regulatory approval by the Federal Competition Commission.
The new tollroad will provide a high-speed communication link between the
Pacific coast resorts of Huatulco and Puerto Escondido and the capital city of
Oaxaca. The highway is expected to support additional development of the
tourist zones and help the economic integration of the inland communities along
the route. The four-lane highway is expected to cut travel time between Oaxaca
and Puerto Escondido to approximately 100 minutes.
Alonso Quintana, ICA's Chief Operating Officer, said, 'The Barranca
Larga-Ventanilla tollroad is a key project for improving transportation and
spurring economic development in Oaxaca. The project is another example of
ICA's ability to execute technically challenging highway projects in a timely
manner. The highway will be a valuable addition to ICA's portfolio of
concessioned highways, and strengthen our position as the largest highway
operator in Mexico.'
Empresas ICA, S.A.B. de C.V. is Mexico's largest construction and
infrastructure operations company. Founded in 1947, ICA's principal lines of
business are civil and industrial construction and engineering; infrastructure
operations, including airports, toll roads, and water systems; and
homebuilding. For more information visit www.ica.com.mx/ir.
The Empresas ICA, S.A.B. de C.V. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=10914
This press release may contain projections or other forward-looking statements
related to ICA that reflect ICA's current expectations or beliefs concerning
future events. Such forward-looking statements are subject to various risks and
uncertainties and may differ materially from actual results or events due to
important factors such as changes in general economic, business or political or
other conditions in Mexico, Latin America or elsewhere, changes in capital
markets in general that may affect policies or attitudes towards lending to
Mexico or Mexican companies, changes in tax and other laws affecting ICA's
businesses, increased costs, unanticipated increases in financing and other
costs or the inability to obtain additional debt or equity financing on
attractive terms and other factors set forth in ICA's most recent filing on
Form 20-F and in any filing or submission ICA has made with the SEC subsequent
to its most recent filing on Form 20-F. All forward-looking statements are
based on information available to ICA on the date hereof, and ICA assumes no
obligation to update such statements.
CONTACT: Investor Relations:
Luz Montemayor
luz.montemayor@ica.com.mx
Iga Wolska
iga.wolska@ica.com.mx
relacion.inversionistas@ica.com.mx
(5255) 5272 9991 ext.3692
Victor Bravo, CFO
victor.bravo@ica.com.mx
In the United States:
Daniel Wilson Zemi Communications,
(1212) 689 9560
dbmwilson@zemi.com
News Source: NASDAQ OMX
16.04.2012 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Empresas ICA, S.A.B. de C.V.
United States
Phone:
Fax:
E-mail:
Internet:
ISIN: US2924482068
WKN:
End of Announcement DGAP News-Service
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Empresas ICA, S.A.B. de C.V.
16.04.2012 14:00
---------------------------------------------------------------------------
MEXICO CITY, 2012-04-16 14:00 CEST (GLOBE NEWSWIRE) --
Empresas ICA, S.A.B. de C.V. (BMV:ICA) (NYSE:ICA), the largest engineering,
construction, procurement and infrastructure company in Mexico, announced that
it acquired the concession for the Barranca Larga-Ventanilla tollroad in the
state of Oaxaca through a wholly-owned subsidiary. The concession agreement
with the Ministry of Communications and Transportation (SCT) includes the
construction, operation, exploitation, and maintenance of the 104 km tollroad
for a term of 30 years.
Total investment in the project will be approximately Ps. 5,352 million. The
contract will be included in ICA's construction backlog during the second
quarter of 2012 and is expected to be completed in 24 months. The development
bank Banobras and the National Infrastructure Fund (FONADIN) will be
participating in the financing. The acquisition is subject to customary
regulatory approval by the Federal Competition Commission.
The new tollroad will provide a high-speed communication link between the
Pacific coast resorts of Huatulco and Puerto Escondido and the capital city of
Oaxaca. The highway is expected to support additional development of the
tourist zones and help the economic integration of the inland communities along
the route. The four-lane highway is expected to cut travel time between Oaxaca
and Puerto Escondido to approximately 100 minutes.
Alonso Quintana, ICA's Chief Operating Officer, said, 'The Barranca
Larga-Ventanilla tollroad is a key project for improving transportation and
spurring economic development in Oaxaca. The project is another example of
ICA's ability to execute technically challenging highway projects in a timely
manner. The highway will be a valuable addition to ICA's portfolio of
concessioned highways, and strengthen our position as the largest highway
operator in Mexico.'
Empresas ICA, S.A.B. de C.V. is Mexico's largest construction and
infrastructure operations company. Founded in 1947, ICA's principal lines of
business are civil and industrial construction and engineering; infrastructure
operations, including airports, toll roads, and water systems; and
homebuilding. For more information visit www.ica.com.mx/ir.
The Empresas ICA, S.A.B. de C.V. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=10914
This press release may contain projections or other forward-looking statements
related to ICA that reflect ICA's current expectations or beliefs concerning
future events. Such forward-looking statements are subject to various risks and
uncertainties and may differ materially from actual results or events due to
important factors such as changes in general economic, business or political or
other conditions in Mexico, Latin America or elsewhere, changes in capital
markets in general that may affect policies or attitudes towards lending to
Mexico or Mexican companies, changes in tax and other laws affecting ICA's
businesses, increased costs, unanticipated increases in financing and other
costs or the inability to obtain additional debt or equity financing on
attractive terms and other factors set forth in ICA's most recent filing on
Form 20-F and in any filing or submission ICA has made with the SEC subsequent
to its most recent filing on Form 20-F. All forward-looking statements are
based on information available to ICA on the date hereof, and ICA assumes no
obligation to update such statements.
CONTACT: Investor Relations:
Luz Montemayor
luz.montemayor@ica.com.mx
Iga Wolska
iga.wolska@ica.com.mx
relacion.inversionistas@ica.com.mx
(5255) 5272 9991 ext.3692
Victor Bravo, CFO
victor.bravo@ica.com.mx
In the United States:
Daniel Wilson Zemi Communications,
(1212) 689 9560
dbmwilson@zemi.com
News Source: NASDAQ OMX
16.04.2012 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: Empresas ICA, S.A.B. de C.V.
United States
Phone:
Fax:
E-mail:
Internet:
ISIN: US2924482068
WKN:
End of Announcement DGAP News-Service
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