October 6, 2016 / 10:24 PM / 3 years ago

Mexico's ICA presents bid to build airport terminal foundation

MONTERREY, Mexico (Reuters) - Embattled Mexican construction firm ICA on Thursday presented a proposal to build the foundation of a terminal building at Mexico City’s new airport, a tender sought by 15 other companies and consortia, Mexico’s government airport operator said.

The bid was made by ICA, which is currently trying to restructure its debt, through several of its subsidiaries for about 7.5 billion pesos ($390 million).

The Airport Group of Mexico City (GACM) was set to tentatively release the results of the tender on Oct. 21 after reviewing proposals.

ICA, whose shares fell 0.73 percent on the local bourse Thursday, participated unsuccessfully in tenders for the construction of two runways at the airport in a consortium with Portugal’s Mota Engil in August.

ICA, which has struggled under a high dollar-denominated debt load and a dwindling stream of projects, said its consolidated debt burden at the end of the latest quarter was 64.6 billion pesos, down 4.53 percent from Dec. 31, 2015.

A consortium formed by Isolux de Mexico and Corsan-Corviam has submitted the lowest bid to build the terminal foundation, for approximately 4.9 billion pesos, while Gami Engineering and Facilities has submitted the highest bid for around 8.4 billion pesos.

($1 = 19.2252 Mexican pesos)

Reporting by Gabriela Lopez; Writing by Natalie Schachar; Editing by Sandra Maler

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below