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MEXICO CITY, Nov. 4, 2013 (GLOBE NEWSWIRE) -- Empresas ICA, S.A.B. de C.V. (BMV:ICA) (NYSE:ICA), the largest infrastructure and construction company in Mexico, announced today that a consortium of which it is part was assigned a multi-year oil pipeline maintenance contract by Ecopetrol in Colombia.
Ecopetrol, S. A. awarded the contract to the Pipeline Maintenance Alliance, which is owned 70% by MASA and 30% by ICA. The contract includes works and maintenance for five years of approximately 900 km of oil pipelines in the southern region of Colombia, plus an option for an additional two years. The total amount of the contract is US$ 272 million. Work is expected to begin in December 2013.
MASA-Mecánicos Asociados S.A.S. is the leading provider in Colombia of Asset Integrity Management services for the oil, mining, and energy sectors. Founded 28 years ago, it is a subsidiary of Stork Technical Services of the Netherlands.
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, visitwww.ica.com.mx/ir
CONTACT: For more information contact:
Ana Paulina Rubio
(5255) 5272 9991 ext.3608
Gabriel de la Concha, CIO
Victor Bravo, CFO
In the United States:
Daniel Wilson, Zemi Communications
(1212) 689 9560