LIMA, Peru--(BUSINESS WIRE)--Graña y Montero S.A.A. (NYSE:GRAM) (BVL:GRAMONC1) (“the Company” or “Graña y Montero”) a leading Engineering and Construction company, announced its Chilean subsidiary Vial y Vives – DSD S.A. has signed a Memorandum of Understanding with Samsung Engineering Chile, a Chilean Agency of Samsung Engineering Co., Ltd. for the project “Civil Works and Electromechanical Assembly of the Combined Cycle Power Plant” in the Kelar Combined Cycle Thermoelectric Central located in Mejillones, II Antofagasta Region, Chile.
The project consists of performing structural excavations, foundations to insert and close perimeter, as well as the complete assembly, which includes structural, mechanical, piping and electrical assembly, in addition to instrumentation of both gas and steam turbines, as well as of the Balance of Plant.
Moreover, we estimate to subscribe the contract in the following days, which will be communicated as a Relevant Information Communication when concluded. This contract will have an execution period of 19 months and the amount of the project is US$ 85'035,390.66 plus sales tax.
About Graña y Montero S.A.A.
Founded in 1933, Graña y Montero is the only Peruvian engineering and construction company listed on the Lima Stock Exchange since 1997 and now also the NYSE. The Company has participated in the development of major engineering and construction projects in Peru, including large-scale, complex projects in the energy, mining, construction and real estate sectors.
With 80 years of operations, the Company has leveraged its engineering and construction expertise into complementary lines of business, such as the development, ownership, operation and maintenance of infrastructure assets, real estate developments, and the provision of technical services. The Company has significant investments in infrastructure concessions, such as three toll roads and Line 1 of the Lima Metro.
The Company has also executed several projects outside Perú, and has acquired three companies in Chile: DSD Construcciones y Montajes, an engineering and construction company specialized in providing services to the energy, oil and gas, cellulose and mining sector in Chile and Latin America; Vial y Vives, a construction company specialized in the mining sector, and CAM, which is specialized in electric services, with operations in Chile, Peru and Colombia.