Graña y Montero ( BVL: GRAMONC1) is a company based in Latin America. It originated as a real estate and construction company, now the oldest and largest in

Peru , image_flag = Flag of Peru.svg , image_coat = Escudo nacional del Perú.svg , other_symbol = Great Seal of the State , other_symbol_type = Seal (emblem), National seal , national_motto = "Fi ...

. Its many business interests include the construction of buildings and infrastructure, the energy and mining industries, and sanitation and highway services. In November 2020 changed its name t
AENZA
Graña y Montero was listed on the

S&P/BVL Peru General Index The S&P/BVL Peru General Index (SPBLPGPT), (formerly< ...

(formerly IGBVL), the main index of

Lima Stock Exchange The Lima Stock Exchange ( es, Bolsa de Valores de Lima, BVL) is the stock exchange of Peru, located in the capital Lima. It has several indices. The S&P/BVL Peru General Index (formerly IGBVL) is a value-weighted index that tracks the performance ...

History

The first Gramovel contract was the construction of a private residence before the population of Lima reached half a million people. When Gramovel merged with Moris y Montero to become Graña & Montero they had already made their first overseas contract. In that year, they decided to construct the city of

Talara Talara is a city in the Talara Province of the Piura Region, in northwestern Peru. It is a port city on the Pacific Ocean with a population of 91,444 as of 2017. Its climate is hot and dry. Due to its oil reserves, and ability to produce aviatio ...

. In 1983, Graña & Montero met its first 50 years and started a new stage. Graña & Montero has a constantly growing participation in major projects in the country. In 2013 the company was listed on the

New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its listed c ...

Major projects

Graña y Montero has built many large projects such as

Larcomar The Larcomar is a shopping center in the Miraflores district of Lima, Peru owned by Chilean company Parque Arauco S.A. It was opened on 27 November 1998. It is frequently visited by international tourists, as well as by locals from Miraflores and ...

, the Lima Sheraton Hotel, the

Jorge Chávez International Airport Jorge Chávez International Airport (Aeropuerto Internacional Jorge Chávez) is Peru's main international and domestic airport. It is located in Callao, northwest from Lima Center, the nation's capital city and from the district of Miraflo ...

El Alto International Airport El Alto International Airport ( es, link=no, Aeropuerto Internacional El Alto) is an international airport serving La Paz, Bolivia. It is located in the city of El Alto, west of La Paz. At an elevation of , it is the highest international air ...

, the first

Sears Roebuck Sears, Roebuck and Co. ( ), commonly known as Sears, is an American chain of department stores founded in 1892 by Richard Warren Sears and Alvah Curtis Roebuck and reincorporated in 1906 by Richard Sears and Julius Rosenwald, with what began a ...

store in Lima, the

Four Seasons Hotel Four Seasons Hotels Limited, trading as Four Seasons Hotels and Resorts, is an international luxury hotel and resort company headquartered in Toronto, Ontario, Canada. Four Seasons currently operates more than 100 hotels and resorts worldwide.D ...

Mexico City Mexico City ( es, link=no, Ciudad de México, ; abbr.: CDMX; Nahuatl: ''Altepetl Mexico'') is the capital and largest city of Mexico, and the most populous city in North America. One of the world's alpha cities, it is located in the Valley o ...

, the

Interoceanic Highway The Interoceanic Highway or Trans-oceanic highway is an international, transcontinental highway in Peru and Brazil to connect the two countries. The east–west passageway spans 2600 kilometers. From Peru's Pacific Ocean coastline, it continues ...

, linking Peru and Brasil, the

Westin Westin Hotels & Resorts is an American upscale hotel chain owned by Marriott International. , the Westin Brand has 226 properties with 82,608 rooms in multiple countries in addition to 58 hotels with 15,741 rooms in the pipeline. History Wester ...

Hotel in

Lima Lima ( ; ), originally founded as Ciudad de Los Reyes (City of The Kings) is the capital and the largest city of Peru. It is located in the valleys of the Chillón River, Chillón, Rímac River, Rímac and Lurín Rivers, in the desert zone of t ...

, the tallest building in the country, the

Camisea Gas Project The Camisea Gas Project extracts and transports natural gas originating near the Urubamba River in Megantoni District, La Convención Province in the Cusco Region of Peru. The project, which cost nearly four billion dollars by 2015, developed in a ...

and many big mining projects in

and

Chile Chile, officially the Republic of Chile, is a country in the western part of South America. It is the southernmost country in the world, and the closest to Antarctica, occupying a long and narrow strip of land between the Andes to the east a ...

Corruption Scandals

South Interoceanic Case: Conirsa Consortium

Graña y Montero partnered with the

Odebrecht Odebrecht S.A. (), officially known as Novonor, is a Brazilian conglomerate, headquartered in Salvador, Bahia, Brazil, consisting of diversified businesses in the fields of engineering, construction, chemicals and petrochemicals. The company w ...

company for the execution of some projects in Peru, among which was the execution of the South Interoceanic highway sections 2 and 3. Due to Odebrecht's confession, of having made illicit payments for awarded projects in various Latin American countries, the Peruvian Prosecutor's Office opened an investigation process against the members of the Conirsa consortium (made up of Odebrecht, Graña y Montero, ICCGSA and JJC), in charge of the execution of said highway. As part of the investigations, the directors of the different consortium companies were included in the preventive detention regime and later released to continue their process in freedom, thus guaranteeing the presumption of innocence and due process. On December 22, 2017, the ad hoc Attorney for the Odebrecht case requested before the Judiciary that Graña y Montero be included in the investigation against former president

Alejandro Toledo Alejandro Celestino Toledo Manrique (; born 28 March 1946) is a Peruvian politician who served President of Peru, from 2001 to 2006. He gained international prominence after leading the opposition against president Alberto Fujimori, who held ...

, because his partner in the Odebrecht project confessed to having made improper payments for US$20 million in exchange for obtaining the good offer in the tender for sections 2 and 3 of the Interoceanic highway.

Lima Metro Case: Electric Train Consortium

In 2009, during the second government of

Alan García Alan Gabriel Ludwig García Pérez (; 23 May 1949 – 17 April 2019) was a Peruvian politician who served as President of Peru The president of Peru ( es, link=no, presidente del Perú), officially called the president of the Republic of ...

, Graña y Montero formed a consortium with Odebrecht called the Electric Train Consortium to execute Sections 1 and 2 of Line 1 of the

Lima Metro The Lima Metro ( es, Metro de Lima) is a rapid transit system that serves the area of the cities of Lima and Callao, both of which make up the Lima metropolitan area, currently linking the district of Villa El Salvador in the south of Lima wi ...

. The contract was signed in December 2009 between the Consortium and the Ministry of Transport and Communications (MTC) of Peru through the emergency decree No. 032-2009 issued by President Alan García Pérez. The decree allowed to increase the budget for the work, transfer the administration from the Lima Metropolitan Municipality to the Ministry of Transport and Communications, and achieve that the investment project be exempt from the regulations of the National Public Investment System (SNIP). On April 23, 2019, the Graña y Montero company was accused of illicit payments to the state after a former Odebrecht official, Jorge Barata, testified that both his company and GyM participated in a bribery scheme to win the tender for the construction work of Sections 1 and 2 on the Line 1 of the Lima Metro. Jorge Barata stated that Graña y Montero paid 3 million dollars as a bribe for the award of the work; the company's management declared that it had no knowledge to corroborate or deny that information. That day GyM's shares fell by 7.4% of their value on the Lima Stock Exchange. The mayor of Lima, Jorge Muñoz, declared that the company was no longer going to execute the Vía Expresa Sur project due to this background. The Comptroller General of the Republic has calculated the cost overrun of this work executed by the Electric Train Consortium at 400 million dollars. 18

References

External links

Web site (archive.org)
{{DEFAULTSORT:Grana y Montero Companies based in Lima Construction and civil engineering companies established in 1933 Real estate companies of Peru Real estate companies established in 1933 1933 establishments in Peru Peruvian companies established in 1933 Companies in the S&P/BVL Peru General Index