Mexico’s ICA Panama Wins $238 Million Dollar Road Construction Contract

Mexico’s ICA Panama Wins $238 Million Dollar Road Construction Contract

Monday, April 11 2011 @ 11:36 AM EDT
Contributed by: Don Winner
Views: 64
ICA, the largest engineering and construction company in Mexico, announced today that the company won, together with the company Constructora Meco, a contract worth $238 million dollars to rebuild and expand the Ave. Domingo Díaz in Panama City, Panama. ICA, headquartered in Mexico City , said in a statement that the work, contracted by the Ministry of Public Works of Panama and should be completed within a maximum period of 36 months, and is part of a “road reorganization” plan developed by the Panamanian government. The winning consortium is made up of 70% by ICA and 30% by Meco. El reform project includes 12.3 kilometers of roadway, which goes from the connection at the Southern Corridor near the Tocumen International Airport, to the intersection with avenues Simón Bolívar and Ricardo J. Alfaro in the District of San Miguelito. “The avenue, the existing bridges and overpasses will be reconstructed and expanded from two to three lanes in both directions” and “improvement work will be done, such as the relocation of drainage and other public services,” said ICA. The person responsible for Strategic Planning and the International area of ​​the Mexican company, Ruben Lopez, said ICA wants to “continue to expand its engineering and construction capabilities in select markets in Latin America.” ICA said in the next five years the Mexican company expects that 50% of its revenues will come from abroad, mainly from Latin Latina. Right now ICA obtains only 5% if its revenues from other countries, which in 2011 they expect to increase to 10%. (Panama America)
Editor’s Comment: Another $238 million dollars of government spending on infrastructure. The vast majority of this money will remain right here in Panama, spent by ICA on materials, fuel, services, payroll, supplies, subcontracts, etc. The government of Ricardo Martinelli is spending a whole lot of money on road and infrastructure projects – more than any previous administration – and while I like new roads, traffic in Panama City is going to be a complete Kluster of the first order for a couple of years while all of this is getting done. For example, they’re going to build five overpasses – just on Via Brazil – while simultaneously building an underground Subway system along the length of Via Espana right through the middle of town. So, you should stay home, and don’t come out until 2017 or so…

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