ICA Wins La Yesca, Mandates WestLB

Mexican construction firm ICA has won a mandate to develop the $800m-$1bn La Yesca hydroelectric project in Mexico and WestLB is sole arranger on the financing. The project, dubbed El Cajón II after a $755m hydroelectric project funded in 2004, also via WestLB, will develop a 220m high dam to generate 750MW of hydroelectric power in the Hostotipaquillo municipality of Jalisco state in Mexico. LatinFinance hears that up to three MLAs should be mandated in the next fortnight with funding slated for September. ICA is on a winning streak, having won with Goldman Sachs Infrastructure Partners a package of four toll roads in Mexico. It bid $4.1bn for the first transaction to be awarded by Fideicomiso de Apoyo al Rescate de Autopistas Concesionadas (FARAC), a trust fund owned by the Mexican Government. The 30-year concession is to build, operate, exploit, conserve, and maintain four tollroads, which have a total length of 548km. Santander is arranging the FARAC financing package, which is also expected to go to MLAs soon. Dexia and NordLB are heard in on the deal already.