ICA Signs Agreement With EXI-CK to Finance the Completion of the Palmillas-Apaseo El Grande Tollroad
February 09 2016 - 7:00AM
Empresas ICA, S.AB. de C.V. (BMV:ICA) (NYSE:ICA),
the largest infrastructure and construction company in Mexico,
confirmed today that its subsidiary COVIMSA has signed an agreement
with CKD Fomento a la Energía e Infraestructura de México (EXI),
through the EXICK Trust, for a Ps. 750 million convertible loan to
provide the resources required for the completion of the
Palmillas-Apaseo El Grande tollroad in the states of Queretaro and
Guanajuato.
Autovía Queretaro, S.A. de C.V., a subsidiary of
COVIMSA, holds the 30-year concession to construction, operate,
exploit, preserve, and maintain the highway.
The Palmillas–Apaseo El Grande tollroad is one
of the most important construction projects in Mexico. The 4-lane,
86 km, high-specification tollroad in Queretaro and Guanajuato is
expected to reduce traffic congestion resulting from the sustained
economic growth of the region.
This agreement ensures all the resources that
are required to finalize the construction and putting into service
of the highway. ICA expects that the construction phase will be
completed in September 2016, and the highway will join ICA’s
existing portfolio of five operating highways.
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.mx.
For more information, please contact:
Gabriela Orozco
gabriela.orozco@ica.mx
relacion.inversionistas@ica.mx
+(5255) 5272 9991 x 3012
Pablo Garcia
Chief Financial Officer
pablo.garcia@ica.mx
In the US:
Daniel Wilson, Zemi Communications
+(1212) 689 9560
dbmwilson@zemi.com