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 today that the consortium formed by its subsidiary Morelco, was awarded the Buena Pro of a contract for US$ 149,176,460, for the execution of the Regional Transmission System located in the Colombian Atlantic Coast.
The project has a duration period of 39 months of construction and 25 years of operation and maintenance. The project was awarded by the Mining and Energy Planning Unit (UPME), which is an entity of the Ministry of Mines and Energy for the design, supplies procurement, construction, operation and maintenance of the electrical reinforcement of Guajira Province.
Morelco managed to put together a team along with a renowned investor and partners with extensive experience in the sector, allowing to participate in an attractive investment project for its expertise, contract value and revenue diversification.
Moreover, this project is of primary importance for the stability of the Atlantic Coast transmission lines system.
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 in the NYSE since 2013. 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.
It currently has subsidiaries in Chile and Colombia, and has been executing major projects in Panama, Bolivia, Jamaica and Ecuador. By the end of 2015, the Group’s international revenues amounted to approximately US$ 600 million.
With 83 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.