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

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     |  16.04.2012, 14:00  |  415  |  0
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    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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    DGAP-News ICA Acquires the Barranca Larga-Ventanilla Tollroad Concession in Oaxaca (deutsch)

    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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