MEXICO CITY, Feb. 13, 2014 (GLOBE NEWSWIRE) -- Empresas ICA, S.A.B. de C.V. (BMV:ICA.MX) (NYSE:ICA), the largest infrastructure and construction company in Mexico, announced today that it signed a Ps. 1,139 million contract with the National Water Commission (Conagua) to construct the General Canal Tunnel in the Chalco Valley. The contract was awarded through a domestic bidding process, and will be executed over 38 months.
The project is an integral part of Conagua's long-term plan to end seasonal flooding in the Mexico City metropolitan area. The 7.9 km, 5 meter diameter tunnel will run parallel to the General Canal, from the Parada del Toro pumping station to the La Caldera pumping station. The project will use an EPB boring machine for the excavation and includes fabrication and installation of the pre-cast concrete segmental lining, installation of the finish lining and covering, and construction of four 12 meter diameter drop shafts, with an average depth of 25 meters each.
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.
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, lCA is listed on the Mexican and New York Stock exchanges. For more information, visit www.ica.com.mx/ir