Graña Y Montero Announces Awarding of New Contract for US$ 63 Million in Colombia
By Business Wire News
Graña y Montero S.A.A. (NYSE:GRAM) (BVL:GRAMONC1) (“the Company” or “Graña y Montero”) a leading Engineering and Construction company, announced today that our subsidiary CAM Colombia Multiservicios S.A.S., has obtained the Buena Pro for the “Comprehensive Electricity Contract” developing several services for the Colombian company Electricaribe S.A. E.S.P., which is part of Gas Natural Fenosa multinational group, which in turn is the largest integrated gas and electricity company in Spain.
The approximate amount of the contract is of US$ 63,000,000.00 and has a duration period of five years, with an option of extending it for two additional years.
These are positive news for CAM, which belongs to the Technical Services Area of our Group, since it is looking to consolidate as a leading company in the electricity and telecommunications sectors in the region, with special emphasis in Colombia, Chile and Perú.
About Graña y Montero S.A.A.
Graña y Montero is the only Peruvian engineering and construction company listed on the Lima Stock Exchange since 1997 and in the NYSE since 2013. 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 82 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, 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 Perú, and has acquired three companies in Chile: DSD Construcciones y Montajes, an engineering and construction company specialized in providing services to the energy, oil and gas, cellulose and mining sector in Chile and Latin America; Vial y Vives, a construction company specialized in the mining sector, and CAM, specializing in electric services, with operations in Chile, Peru and Colombia. It recently acquired Morelco, a Colombian company specialized in electromechanical assemblies, civil works, and services for the oil and gas industry as well as energy industry.