Sinohydro consortium wins $386mn Mexican hydropower project

A consortium including Sinohydro Corp. (601669.SHA)–the company behind China’s massive Three Gorges dam–has been awarded a US$386.4 million contract to build a hydroelectric power station in the southern Mexican state of Chiapas, Reuters reported, citing a statement from Mexican state power company CFE. The plant, known as Chicoasen II, is expected to be built in an estimated 42 months and will provide 537,000 homes in the state with electricity, CFE said. The consortium’s bid was almost US$20 million below CFE’s budget ceiling for the project of US$405.6 million.