Today, Graña y Montero S.A.A. (“Graña y Montero” or the “Company”), the recently listed engineering and construction Peruvian company in the New York Stock Exchange, signed the concession contract for the extension of the Via Expresa Paseo de la República highway (the “Via Expresa Sur Project”) with the Municipality of Lima.
The Via Expresa Sur Project will connect downtown Lima and the Panamericana Sur highway through 4.5 km including 5 bridges, 2 connecting lines, 6 entrance ramps and 5 exit ramps. The project will also have auxiliary ways from north to south.
With an estimated investment of US$230 million, the construction will take 5 years, and will benefit approximately 75,000 vehicles in the city of Lima.
Mario Alvarado, Chief Executive Officer of Graña y Montero, commented, “As envisaged during the recent capital raising process we successfully executed in the New York Stock Exchange, Via Expresa Sur will be one of the infrastructure projects in which we will invest part of the proceeds from the offering.”About Graña y Montero S.A.A. Founded in 1933, Graña y Montero is the only Peruvian engineering and construction company listed on the Lima Stock Exchange since 1997 and now also the NYSE. The Company has participated in the development of major engineering and construction projects in Peru, including large-scale, complex projects in the energy, mining, construction and real estate sectors. With 80 years of operations, the Company has leveraged its engineering and construction expertise into complementary lines of business, such as the development, ownership, operation and maintenance of infrastructure assets and real estate developments, and the provision of technical services. The Company has significant investments in infrastructure concessions, such as three toll roads and Line 1 of the Lima Metro. The Company has also executed several projects outside Peru, and has acquired two companies in Chile: Vial y Vives, a construction company specialized in the mining sector, and CAM, which is specialized in electric services with operations in Chile, Peru and Colombia.