Mexico's ICA to sell assets for 5 bln pesos in 2016:CEO

Mexican construction firm ICA expects to sell assets next year for 5 billion pesos (US$317.99 million) as part of an effort to reduce its heavy debt load, Chief Executive Officer Alonso Quintana said in an interview.

Quintana also said late on Thursday that the company aims to lower its ratio of net debt to earnings before interest, taxes, depreciation and amortization (EBITDA) to 6 this year from around 7 currently.

Quintana was optimistic about the prospects for a controversial aqueduct project awarded to a consortium including ICA in the northern state of Nuevo León, which the governor-elect has promised to cancel.

Quintana said he hopes to smooth things over with the incoming Nuevo León administration and begin construction of the project in January, 2016.