Graña y Montero Announces Awarding of New Contract for US$ 68 Million
By Business Wire News
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 Coasin Instalaciones Limitada, a company that belongs to its subsidiary Cam Chile S.A specializing in operational services for the Telecommunication sector, was awarded a contract for the amount of US$ 68’619,100.00 to be executed in a period of ten years.
This contract has been subscribed with VTR Banda Ancha, one of the leading service companies of cable television, landline telephones and internet access in Chile. From this date, Coasin Instalaciones will be responsible for the installations, disconnections, withdrawals, and maintenance technical visits for household services and household products required by end customers in the Metropolitan Zone and City Center of Santiago de Chile.
Graña y Montero Group acquired Coasin in March 2014 and currently is working with the major telecommunications companies in the Chilean market, having as main customers Movistar, Entel, Claro and VTR.
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.