Mexican construction company Empresas ICA Sociedad has announced that the Federal Electricity Commission (CFE) has awarded the El Cajon hydroelectric project to Constructora Internacional de Infraestructura.
This consortium includes two ICA subsidiaries, Promotora e Inversora Adisa as the project leader with a 40% shareholding, and Ingenieros Civiles Asociados, with 25%. energomachexport Power Machines and Peninsular Compania de Constructora own 20% and 15% of the consortium, respectively.
The bid presented by Constructora Internacional de Infraestructura was for approximately US$750M, with a term of completion of 1620 days.
The El Cajon project, in the state of Nayarit, comprises the execution of civil construction, electromechanical and ancillary work including procurement, engineering, fabrication, transport, assembly, testing, start-up and commissioning of two turbo-generating units with a guaranteed combined design power rating, under different hydraulic loads, in excess of 670MW.
This is the first EPC contract for the complete execution of a hydroelectric project, under the financed public works programme. Under this programme, the contractor obtains financing for the whole amount, and the client will pay upon completion. During this period, the project will be consolidated in ICA’s financial statements. The contract also includes the creation of a retention account, which will be released upon the delivery and final payment of the project.