Graña y Montero, a Peruvian construction and engineering firm, has won a $149 million USD bid to construct and run a major electrical project on Colombia’s Caribbean coast. The government’s Ministry of Mines and Energy awarded the contract to a group led by the Lima-based firm’s Colombian subsidiary, Morelco, to design, construct, operate, and maintain what is being called an “electrical reinforcement” project in the underserved La Guajira department.
The construction phase is expected to last 39 months, and the company will operate the transmission system for 25 years. “This project is of primary importance for the stability of the Atlantic Coast transmission lines system,” said the company in a statement.
Graña y Montero, and its Morelco subsidiary, have managed various projects in Colombia. Most recently, it won a $135 million USD bid to build 14 schools in western Colombia.
In 2014, the Graña y Montero paid $78 million USD for a 70% stake in Morelco. According to Morelco chief Arturo Serna Henao, the Peruvian firm saw the acquisition as a great way to get involved in projects tied to the nation’s massive, $30 billion USD dollar “4G” infrastructure project to transform the nation’s roads, bridges, and tunnels. He says that Morelco also may bid for work on Bogotá’s planned underground metro system.