Sep 20, 2017   SOURCE: BusinessWire

Graña y Montero Announces that Morelco Was Awarded Two New Contracts in Colombia for US$ 15.9 Million

Graña y Montero S.A.A. (NYSE:GRAM) (BVL:GRAMONC1) (“the Company” or “Graña y Montero”), a leading Engineering and Construction company, announced that its subsidiary Morelco in Colombia was awarded two new contracts today with Ecopetrol, a Colombian national oil company.

The first contract amounts to US $ 11.902 million for an air-cooling system at the Suria and Ocoa thermoelectric plants; while the second contract is for US $ 4.087 million granted for the refurbishment works of Reficar (Refinery of Cartagena).

"These two contracts are part of the progress of our business in the international market and also contribute to the maintenance and improvement of important projects. We will continue working on this line to strengthen the regional dimension of the Group," said Luis Diaz Olivero, Chief Executive Officer of Graña y Montero.

Morelco is a construction company specialized in the hydrocarbons sector with operations in Colombia, that contributes to the development of the industry through the design, construction, maintenance and operation of integral infrastructure solutions.