Empresas ICA (ICA), the Mexico-based infrastructure and construction company, has received an additional US$147M for work carried on the La Yesca hydroelectric project as part of a government settlement.
ICA delivered the 750MW hydroelectric project to the Federal Electricity Commission in 2012. The additional payment represents partial settlement for additional work undertaken on the project.
In a statement, ICA said the parties continue to reconcile the total value of additional work, as part of the finalization of the contract. The payments were used in their entirety to pay short-term project debt.
