Graña Y Montero To Participate In Peruvian Southern Gas Pipeline Project

(RTTNews) - Peruvian engineering and construction company Graña y Montero S.A.A. (GRAM) announced an agreement to participate with a 20 percent stake in the shareholder equity of Concesionaria Gasoducto Sur Peruano S.A. for the construction of the Southern Gas Pipeline. This represents an investment of about $ 215 million for the Group.

The Peruvian Group is one of the most qualified organizations for the construction and operation of gas pipelines in the region.

The Southern gas pipeline is a project which will bring natural gas to the southern region of the country, especially to the provinces of Cuzco, Arequipa, Puno and Moquegua.

Concesionaria del Gasoducto Sur Peruano S.A., is responsible for the design, construction and operation of the pipeline system for gas transportation.

The company said this investment will generate new contracts for the Group for about $1.0 billion (Backlog).

The company added that participating in the construction of the Southern Gas Pipeline, which is one of the most important infrastructure projects under execution in Peru, is in line with Graña y Montero's strategy, and it will allow us to increase our know-how and gain presence as a regional player.