MEXICO CITY, Jan. 13, 2015 (GLOBE NEWSWIRE) -- Empresas ICA, S.A.B. de C.V. (BMV:ICA) (NYSE:ICA), the largest infrastructure and construction company in Mexico, today announced the signing of the public works contract to build the Santa Maria reservoir dam with the Federal Water Commission, Conagua. The Ps. 3,989 million unit-price, fixed-term public works contract was awarded through a domestic bidding process. The project is scheduled to be completed in January 2018.
The Santa Maria dam, to be located on the Rio Baluarte in Rosario, Sinaloa will provide water principally for agricultural use in Sinaloa, and aid in the development of value-added in the southern part of the state. The dam will have 120 m high and 784 m long. The reservoir will have a total storage capacity of approximately 980 million m3 of water, and be capable of irrigating approximately 24,000 hectares of farmland in the municipalities of Rosario and Escuinapa.
Alonso Quintana, ICA's Chief Executive Officer, said, "The Santa Maria dam project builds on ICA's demonstrated expertise and long tradition of building dams and hydroelectric projects. We look forward to aiding in the development of the southern part of Sinaloa."
This press release 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, lCA is listed on the Mexican and New York Stock exchanges. For more information, visit ir.ica.com.mx
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Source:Empresas ICA, S.A.B. de C.V.