ICA Signs Agreement With EXI-CK to Finance the Completion of the Palmillas-Apaseo El Grande Tollroad
February 09 2016 - 6:00AM
MEXICO CITY, Feb. 09, 2016 (GLOBE
NEWSWIRE) -- 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
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Empresas ICA, S.A.B. de C.V. via
Globenewswire
HUG#1984641