Electricaribe Awards Peru’s Graña Y Montero Subsidiary 5-Year $63 Million USD Electricity Technical Services Contract

Graña y Montero S.A.A. (NYSE:GRAM) (BVL:GRAMONC1) announced Friday evening that their subsidiary CAM Colombia Multiservicios S.A.S. has obtained the Buena Pro for the “Comprehensive Electricity Contract” to provide engineering and technical services for the Colombian company Electricaribe. The approximate amount of the contract is of $63 million USD and has a duration period of five years, with an option of extending it for two additional years.

Buena Pro is notification that a firm has won a competitive bidding process, as in a response to an RFP.

Electricaribe S.A. E.S.P., is part of the multinational Gas Natural Fenosa group, the largest integrated gas and electricity company in Spain.

According to a statement issued by Graña Y Montero, CAM Colombia Multiservicios, which belongs to the Technical Services Area of the group, is looking to consolidate its position as a leading company in the electricity and telecommunications sectors in the region, with special emphasis in Colombia, Chile and Perú.

Above photo: A service attendant fills a taxi with compressed natural gas (CNG) at an (Electricaribe parent) Gas Natural Fenosa filling station in Bogotá Colombia. Natural gas is a common vehicle fuel in Colombia. (photo courtesy of Gas Natural Fenosa)