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Empresas ICA SAB de CV and CGL, a wholly owned subsidiary of Hunt Companies, form partnership for $1,060 mln in Social Infrastructure projects in Mexico

Wednesday, 22 Jan 2014 06:30pm EST 

Empresas ICA SAB de CV:Says the formation of a joint venture for managing and developing additional social infrastructure facilities in Mexico.Says ICA is contributing two 22-year service provider contracts (SPCs) for providing non-correctional services at two federal penitentiaries in Mexico, in which it has invested about 13,768 mln Mexican peso ($1,060 mln) in design, construction, equipment, and putting into service.Says CGL will pay ICA 1,511 mln Mexican peso, or about $116 mln, for a 70 pct equity interest and ICA will retain 30 pct.Says the joint venture will carry out the two existing services provider contracts and plans to develop additional justice facilities in Mexico. 

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