Company Website:
http://www.granaymontero.com.pe/
LIMA, Peru -- (Business Wire)
Graña y Montero Group (NYSE: GRAM) (BVL: GRAMONC1) indicated through a
Relevant Information Communication that, today, Sempra informed its
decision not to proceed with the purchase of shares of Odebrecht Group
in the Southern Gas Pipeline Project (GSP).
As a result, the current partners of GSP, Enagás Internacional and Graña
y Montero, together with the companies of Techint Group - that
accompanied SEMPRA in the purchase process - are working on alternatives
that allow the project to be carried out in the short-term.
It was indicated that if the project could not be made feasible, and as
a consequence, the Government decides to terminate the Concession
Contract, such contract provides a termination payment mechanism which,
among others, would be destined to the recovery of the amount invested
by the Graña y Montero Group in the Project.
In September 2015, Graña y Montero agreed to acquire 20% of the share
capital of the Southern Gas Pipeline Concessionaire, with an investment
of US$ 215 million, which reflected a clear sign of confidence in the
future as well as a commitment to the country’s energy development.
“We continue to believe that the Southern Gas Pipeline, is a vital
project for Peru and of which we will feel very proud when it is
completed, as we will contribute with our work to the development and
growth of Southern Peru,” indicated Mario Alvarado Pflucker, CEO of
Graña y Montero Group.
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161123005745/en/
Contacts:
Graña y Montero Group
Samantha Ratcliffe, (511) 213-6573
Investor
Relations
samantha.ratcliffe@gym.com.pe
relacion.inversionistas@gym.com.pe
http://investorrelations.granaymontero.com.pe/
Source: Graña y Montero Group
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