Empresas ICA announced earlier that a consortium of which it is part has signed the agreement for the design, financing, construction, operation and maintenance of the new "TEC II" container terminal in the Lázaro Cárdenas port. The assignment of rights agreement for 30 years was awarded through an international bidding process by Administración Portuaria Integral de Lázaro Cárdenas. The assignee is a consortium composed by ICA Infraestructura with 5% and APM Terminals, a part of the Danish group AP Moller-Maersk, with 95%. The consortium estimates a total investment for all three stages for approximately $900M. ICA Civil Construction will carry out 100% of the civil construction works for the first stage through a construction contract of Ps.1,203 million and $79M, and included in backlog as of Q3.
Happy demi-anniversary, stock market rally. Will the honeymoon ever end?