MEXICAN state power company CFE has awarded a US$386.4 million contract to build a 240 Megawatt (MW) hydroelectric power station in southern Mexico to a consortium that includes a unit of China’s Sinohydro Corp.

    In a statement late Friday, CFE said the group composed of Sinohydro Costa Rica, Omega Construcciones, Desarrollos Construcciones Urbanas and CAABSA Infraestructura had won the contract with a bid almost US$20 million below the CFE’s budget ceiling for the project of US$405.6 million.

    The plant, known as Chicoasen II, is expected to provide 537,000 homes with electricity in the southern state of Chiapas. The project is due to be built in an estimated 42 months, the CFE said.

    Sinohydro Group built China’s massive Three Gorges Dam.

    (SD-Agencies)