ICA Signs Ps. 2,985 Million Agreement for Upgrading and Maintaining Federal Highways in Sonora


MEXICO CITY, May 15, 2012 (GLOBE NEWSWIRE) -- Empresas ICA, S.A.B. de C.V. (BMV:ICA) (NYSE:ICA), the largest engineering, construction, procurement and infrastructure company in Mexico, signed a multi-year agreement for the upgrading and maintenance of 797.4 km of federal highways in the state of Sonora with the Ministry of Communications and Transportation (SCT). The public works contract was awarded through an international bidding process.

The total value of the seven-year contract, which includes upgrading, maintenance and conservation services, is Ps. 2,985 million and will be included in ICA´s backlog during the second quarter of 2012.

Contract years one through three are the "preparation and development phase" that will include the upgrading of the highways to meet specified standards. Years four through seven are the "conservation phase" that includes the maintenance and conservation of the upgraded highways.

The package of highways includes the roads that link the main cities in Sonora, including Hermosillo, Nogales, and Puerto Peñasco, and is expected to start construction during the end of May.

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.



            

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