ICA Fluor Awarded Gold and Silver Mining Project

MEXICO CITY, Oct. 19, 2016 -- Empresas ICA, S.AB. de C.V. (BMV:ICA), announced today that ICA Fluor, its industrial engineering and construction joint venture with Fluor Corporation (NYSE:FLR) was awarded an engineering, procurement and construction management contract by Minas de La Alta Pimeria S.A. de C.V. (MAPSA), a subsidiary of Goldcorp, for the Pyrite Leach Project in Zacatecas, Mexico. ICA booked its share of the undisclosed contract value into its Non-Consolidated Affiliates and Joint Ventures Backlog in the third quarter of 2016.

Located at the Peñasquito mine, the new facility will process existing zinc tailings to increase overall gold and silver recoveries prior to final deposition at the existing tailings storage facility, increasing the overall viability of Goldcorp’s facility.

Fluor serves as Goldcorp’s partner of choice for studies, engineering and construction through a strategic relationship agreement. The feasibility study for the project was completed in December 2015 and since that time the joint venture team has been working closely with MAPSA (Goldcorp) to ready the project for execution.

“Working hand-in-hand with Goldcorp as their strategic partner, the approach we have developed improves this project’s overall viability,” said Rick Koumouris, president of Fluor’s Mining & Metals business. “With more than 25 major mining projects in the last 10 years and an industry-leading partnership with ICA Fluor, we are honored to bring our technical expertise and geographical footprint to support Goldcorp’s capital investment plans.”

“We are honored to keep participating in the improvement of Mexico’s industrial sector and the further development of the country,” said Luis Zarate, chief executive officer of ICA.

ICA has a 69-year experience in the engineering, procurement and construction of emblematic infrastructure projects in Mexico and, through its joint venture in ICA Fluor, has become a leader in the Mexican Industrial Construction segment.

About ICA Fluor
ICA Fluor is the leading industrial engineering-construction company in Mexico, dedicated to the engineering, procurement, construction and maintenance of industrial facilities in the oil and gas, chemical, petrochemical, automotive, power, mining and telecommunication industries.

About ICA
Empresas ICA, S.A.B. de C.V. is a Mexican infrastructure company. ICA carries out large-scale civil and industrial construction projects and operates a portfolio of long-term assets, including airports, toll roads and water systems. Founded in 1947, ICA is listed on the Mexican Stock Exchange. For more information, visit ir.ica.mx.   

About Fluor Corporation
Fluor Corporation (NYSE:FLR) is a global engineering, procurement, fabrication, construction and maintenance company that designs, builds and maintains capital-efficient facilities for its clients on six continents. For more than a century, Fluor has served our clients by delivering innovative and integrated solutions across the globe. With headquarters in Irving, Texas, Fluor ranks 136 on the FORTUNE 500 list with revenue of $18.1 billion in 2015 and has more than 60,000 employees worldwide. For more information, please visit www.fluor.com or follow us on Twitter @FluorCorp.

This press release contains projections or other forward-looking statements related to ICA that reflect ICA’s current expectations or beliefs concerning future events. Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements. These factors include cancellations of significant construction projects included in backlog, material changes in the performance or terms of our concessions, additional costs incurred in projects under construction, failure to comply with covenants contained in our debt agreements, developments in legal proceedings, unanticipated increases in financing and other costs or the inability to obtain additional debt or equity financing on attractive terms, changes to our liquidity, economic and political conditions and government policies in Mexico or elsewhere, changes in capital markets in general that may affect policies or attitudes towards lending to Mexico or Mexican companies, changes in inflation rates, exchange rates, regulatory developments, customer demand, competition and tax and other laws affecting ICA’s businesses and other factors set forth in ICA’s most recent filing on Form 20-F and in any filing or submission ICA has made with the SEC subsequent to its most recent filing on Form 20-F. All forward-looking statements are based on information available to ICA on the date hereof, and ICA assumes no obligation to update such statements.

Empresas ICA, S.A.B. de C.V., carries out large-scale civil and industrial construction projects and operates a portfolio of long-term assets, including airports, toll roads, water systems, and real estate. Founded in 1947, ICA is listed on the Mexican and New York Stock exchanges.  For more information, visit ir.ica.mx.

For more information, please contact:

Christianne Ibanez
[email protected]

[email protected]
+(5255) 5272 9991 x 3607

Pablo García
[email protected] 
Chief Financial Officer