ICA To Bid For Mexico City Airport Contracts - Report

July 8, 2016

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Mexican construction firm ICA will bid to build runways and a terminal at Mexico City's new airport, local media reported.

Luis Zarate, chief executive of ICA, told the newspaper La Jornada that the firm will present documents to participate in a runway bid with a consortium of domestic and foreign firms on August 8.

"It's a project that interests us… it is a challenge for Mexican engineering and we have the ability to do it," Zarate was quoted as saying.

Last month, ICA got a USD$215 million credit from investment firm Fintech, which ICA will use to finance new contracts while negotiating with creditors to restructure its heavy debt.

The new airport, President Enrique Pena Nieto's landmark infrastructure venture, is aimed at turning Mexico City into a major regional hub that handles around 50 million passengers a year from 2020 when it is due to open.

(Reuters)