ICA-led consortium signs contract to build the Northern Interceptor Tunnel

Apr 14, 2011

Empresas ICA, S.A.B. de C.V. (BMV and NYSE: ICA) announced that the CICE consortium, led by ICA, signed a construction contract of approximately US$67 million to build a wastewater interceptor tunnel in Medellín, Colombia with Aguas Nacionales EPM, an affiliate of Empresas Públicas de Medellín. The CICE consortium includes ICA subsidiaries with 80% and Estyma of Medellin with 20%.

 The project for the Northern Interceptor for the Rio Medellín includes the detailed design and construction of a 7.7 km tunnel with a diameter of 2.4 meters. The tunnel, which will be at depths between 3.3 to 21 meters below the surface, will collect wastewater in the central and northern parts of Medellin and the municipality of Bello and deliver it to the site of a future water treatment plant.
 
The fixed-price contract has three tranches, in the amounts of Col. Ps. 73,957 million, US$ 7.1 million, and € 14.3 million. The amount that corresponds to ICA Civil Construction is approximately US$ 53.6 million, and will be included in backlog as of the second quarter of 2011. The project is scheduled to be constructed over 990 days, and construction begins in April 2011.
 
Rubén López, head of Strategic Planning and International for ICA, said, “We believe that Colombia is one of the most attractive markets for infrastructure development. ICA is proud to have won this contract, working together with our Colombian partner Estyma. We look forward to continue applying our expertise in the construction of water tunnels. The Northern Interceptor is an important element for the restoration of the Rio Medellín, reducing pollution and improving the quality of life for residents. This project award confirms ICA commitment to continue expanding our engineering and construction activities in select Latin American markets.”
 
 
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 or contact Alonso Quintana (CFO) via alonso.quintana@ica.com.mx
 
 

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