January 10, 2015 / 6:40 PM / 5 years ago

Mexico awards $386 mln hydro project to China-backed consortium

MEXICO CITY, Jan 10 (Reuters) - Mexican state power company CFE has awarded a $386.4 million contract to build a 240 Megawatt (MW) hydroelectric power station in southern Mexico to a consortium comprising a unit of China’s Sinohydro Corp.

In a statement late on Friday, the CFE said the group composed of Sinohydro Costa Rica, Omega Construcciones, Desarrollos y Construcciones Urbanas and CAABSA Infraestructura had won the contract with a bid almost $20 million below the CFE’s budget ceiling for the project of $405.6 million.

The plant, known as Chicoasen II, is expected to provide 537,000 homes with electricity in the southern state of Chiapas. The project is due to be built in an estimated 42 months, the CFE said.

Sinohydro Group built China’s massive Three Gorges dam. (Writing by Dave Graham; Editing by Alan Crosby)

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