MEXICO CITY, Aug. 19, 2014 (GLOBE NEWSWIRE) -- Empresas ICA, S.A.B. de C.V. (BMV: ICA ) (NYSE: ICA ), the largest infrastructure and construction company in Mexico, announces that it signed a contract with Conagua, the National Water Commission, to build the Churubusco-Xochiaca water tunnel in Mexico City and Mexico state.
The Ps. 2,566 million fixed-price contract was awarded through a domestic bidding process. Construction will be completed over a term of 29 months.
The Churubusco-Xochiaca water tunnel is designed as an additional measure to reduce seasonal flooding in the Valley of Mexico, particularly in a fragment of the Nezahualcoyotl municipality and the adjacent Venustiano Carranza district of Mexico City. The project includes construction of a 13 km, 5 m interior diameter tunnel, nine 12 m diameter drop shafts with a depth of 30 m, six 8 m diameter drop shafts with a depth of 18 m, and associated works.
This report contains 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.
Empresas ICA, S.A.B. de C.V. is Mexico's largest infrastructure company. ICA carries out large-scale civil and industrial construction projects and operates a portfolio of long-term assets, including airports, toll roads, water systems, and real estate. Founded in 1947, ICA is listed on the Mexican and New York Stock exchanges. For more information, visit ir.ica.com.mx
Ana Paulina Rubio Elena Garcia +(5255) 5272 9991 x 3608 Gabriel de la Concha Corporate Finance Director and Treasurer Victor Bravo Chief Financial Officer In the US: Daniel Wilson, Zemi Communications +(1212) 689 9560
