Empresas ICA and Caisse de Depot et Placement du Quebec (CDPQ) have reached an agreement that would facilitate the creation of an operational platform for transportation projects in Mexico, ICA said Monday.
The platform will initially facilitate four projects in Mexico, with additional projects in the future. CDPQ is set to pay $3.01 billion upon the final approval of the agreement by the government of Mexico.
The agreement is expected to take effect during the second quarter of 2015. ICA will own 51 percent of the platform; CDPQ will own 49 percent. The first projects are the Acapulco Tunnel, the Rio Verde - Cuidad Valles Highway, the La Piedad Bypass and the Mayab Tollroad.
ICA is considered one of the largest infrastructure management companies in Mexico and carries out several construction projects for the public and civil sectors. Past projects have consisted of toll roads, water systems and airports.
CDPQ is an investor and fund manager for pension programs in the public or parapublic sectors. It held $226 billion in assets at the end of 2014. It has investments within major financial markets that include real estate and infrastructure sectors.