Israel's H&C to build $200 mln Guatemala power plant

TEL AVIV, Jan 7 (Reuters) - Israel's Housing & Construction Holding Co HUCN.TA said on Wednesday one of its subsidiaries signed a contract worth $200 million to build a hydroelectric power plant in Guatemala.

The project will be carried out over 32 months, the company said in a statement to the Tel Aviv Stock Exchange.

Work on the Palo Viejo plant includes building dams and a water reservoir, digging canals, a tunnel and building access roads, installing the turbines, and constructing a building for the machines.

H&C, Israel's biggest construction company, is controlled by the Arison Group.

Its shares were up 3.2 percent in afternoon trading in Tel Aviv, outperforming a flat broader market.

(Reporting by Tova Cohen; editing by Simon Jessop)