Market Overview

ICA Consortium Awarded $272M Pipeline Maintenance Contract by Ecopetrol in Colombia

Related ICA
ICA Awarded Ps. 2,566 Million Contract For Churubusco-Xochiaca Water Tunnel
Morgan Stanley Sees Challenges Ahead for Empresas ICA SA Despite Solid 1Q14 Results

Empresas ICA (NYSE: ICA) announced today that a consortium of which it is part was assigned a multi-year oil pipeline maintenance contract by Ecopetrol (NYSE: EC) in Colombia.

Ecopetrol, S. A. awarded the contract to the Pipeline Maintenance Alliance, which is owned 70% by MASA and 30% by ICA. The contract includes works and maintenance for five years of approximately 900 km of oil pipelines in the southern region of Colombia, plus an option for an additional two years. The total amount of the contract is US$ 272 million. Work is expected to begin in December 2013.

MASA-Mecánicos Asociados S.A.S. is the leading provider in Colombia of Asset Integrity Management services for the oil, mining, and energy sectors. Founded 28 years ago, it is a subsidiary of Stork Technical Services of the Netherlands.

This press release may contain projections or other forward-looking statements related to ICA that reflect ICA's current expectations or beliefs concerning future events. Such forward-looking statements are subject to various risks and uncertainties and may differ materially from actual results or events due to important factors such as changes in general economic,

See full press release

Posted-In: News Guidance Contracts Management Global


Related Articles (EC + ICA)

Around the Web, We're Loving...

Get Benzinga's Newsletters