Acapulco Scenic Bypass

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The Acapulco Scenic Bypass toll road initially included a 3.3 km tunnel from the Brisamar interchange to Cayao - Puerto Marques and a 4.7 km highway from the tunnel entrance to the Zona Diamante section of Acapulco. The road was planned to provide a more rapid connection between the city center and the rapidly growing areas in the Zona Diamante. In November 7, 2012, the state government of Guerrero, Mexico, awarded Mexican engineering and construction firm ICA (NYSE: ICA) a 30 year concession to build and operate the toll road. The project was awarded through a national bidding process. The construction amount was estimated at approximately US$147 million (1.94 billion Mexican pesos-MXP) and will be included in ICA's backlog. Total investment was initially estimated to be approximately US$ 213 million (2.8 billion MXP), which included cost of construction, right of way payments, and contingency funds. In June 6, 2013, construction started. The final total cost was estimated to be US$ 266 million (MXP 3.5 billion). From those, MXP 100 million was to be provided by FONADIN, state government were to provide MXP 300 million pesos and the rest would come from IDEAL company from Carso Group (Carlos Slim). ICA was in charge of construction. Construction of the mega tunnel was expected to last for 2 years. The agreement to provide financing between the Guerrero Government and IDEAL was signed on May 31, 2013. Both Carlos Slim (IDEAL) and Bernardo Quintana (ICA) accompanied Guerrero Governor on June 6 2013 in the inauguration of the civil works.