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DGAP-News ICA Acquires the Barranca Larga-Ventanilla Tollroad Concession in Oaxaca (deutsch)

Nachrichtenagentur: dpa-AFX
 |  16.04.2012, 14:00  |  331 Aufrufe  |   | 

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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