Graña y Montero
Corporate brand
UnclaimedPeruvian engineering, construction, infrastructure, energy, and mining-services group later renamed AENZA.
Last updated August 22, 2026
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Overview
Graña y Montero was a major Peruvian engineering and construction group whose activities expanded from residential building into large infrastructure, energy, mining, transportation, sanitation, and real-estate projects. Founded in 1933, the company developed during Peru’s urbanization and infrastructure growth and became one of the country’s best-known contractors. Its early work included private residences and other construction projects in Lima. After the combination of Gramovel with Moris y Montero, the business operated under the Graña y Montero name and broadened its reach, including work outside Peru. Over subsequent decades, the group participated in projects spanning buildings, airports, hotels, highways, gas infrastructure, mining facilities, and public-transport systems. Frequently cited projects include the Larcomar complex, the Lima Sheraton Hotel, Jorge Chávez International Airport, El Alto International Airport, Lima’s first Sears Roebuck store, the Four Seasons Hotel in Mexico City, the Interoceanic Highway linking Peru and Brazil, the Westin Hotel in Lima, and the Camisea Gas Project. The company also worked on major mining developments in Peru and Chile. These activities positioned Graña y Montero as a diversified engineering and project-delivery group rather than a contractor limited to conventional building construction. The company reached its fiftieth anniversary in 1983 and continued expanding its participation in major Peruvian projects. It became a public company on the Lima Stock Exchange and was included in the S&P/BVL Peru General Index, formerly known as the IGBVL. In 2013, it was also listed on the New York Stock Exchange, according to the cited reference material. The group’s public-market profile and extensive project portfolio made it an important participant in Peru’s infrastructure economy. Graña y Montero’s reputation was later severely affected by investigations connected with projects carried out in partnership with Odebrecht. The principal matters described in the reference material concern sections 2 and 3 of the South Interoceanic Highway and sections 1 and 2 of Line 1 of the Lima Metro. Prosecutors investigated members of the relevant consortia after Odebrecht admitted making improper payments in Latin America. In the Lima Metro matter, former Odebrecht executive Jorge Barata alleged that Graña y Montero participated in a payment scheme; the company’s management said it could not corroborate or deny the allegation at that time. The reports also describe a sharp fall in the company’s Lima-listed shares after the allegation became public and political consequences for a planned Lima road project. These allegations and investigations must be distinguished from final judicial findings; the cited material describes investigations, accusations, and procedural actions rather than an established final conviction of the company. In November 2020, Graña y Montero changed its name to AENZA. Accordingly, Graña y Montero is best understood as the former corporate identity of a Peruvian infrastructure and engineering group, while AENZA represents its later corporate brand. The historical brand remains associated with large-scale project execution in Peru and with the public controversies that surrounded its former partnerships and government contracts.
History
Graña y Montero originated in Peru in 1933 as a real-estate and construction enterprise. Its early activity included the construction of private residences in Lima, at a time when the capital had fewer than half a million inhabitants. The business later combined with Moris y Montero and adopted the Graña & Montero name. By the time of that combination, the company had already undertaken an overseas contract and subsequently participated in the construction of the city of Talara, demonstrating an early move beyond small-scale urban building. The company expanded steadily through the twentieth century as Peru required new buildings, transport links, industrial facilities, and public infrastructure. Its portfolio came to include commercial and hospitality properties, airports, highways, energy installations, mining projects, and sanitation-related services. Cited projects include Larcomar, the Lima Sheraton Hotel, Jorge Chávez International Airport, El Alto International Airport, Lima’s first Sears Roebuck store, the Four Seasons Hotel in Mexico City, the Interoceanic Highway between Peru and Brazil, the Westin Hotel in Lima, and the Camisea Gas Project. The group also delivered or participated in major mining projects in Peru and Chile. In 1983, the company marked its fiftieth anniversary and entered a further stage of expansion. It became a prominent participant in Peru’s major-project market and developed interests beyond traditional construction, including energy, mining, highway services, and sanitation. Its shares traded on the Lima Stock Exchange, and the company was included in the S&P/BVL Peru General Index. The reference material also states that Graña y Montero listed on the New York Stock Exchange in 2013, giving the group an additional international capital-markets presence. The company’s later history was dominated by investigations concerning its association with Odebrecht. Graña y Montero was part of the Conirsa consortium for sections 2 and 3 of the South Interoceanic Highway, alongside Odebrecht, ICCGSA, and JJC. After Odebrecht admitted making illicit payments in Latin America, Peruvian prosecutors opened proceedings concerning the consortium and its participants. In December 2017, the ad hoc attorney handling the Odebrecht case asked the judiciary to include Graña y Montero in an investigation involving former president Alejandro Toledo, based on an allegation that improper payments had been made to obtain the highway tender. The reference material describes preventive-detention measures involving directors of consortium companies, followed by release while proceedings continued, and emphasizes the presumption of innocence and due process. Graña y Montero also formed the Electric Train Consortium with Odebrecht in 2009 to execute sections 1 and 2 of Line 1 of the Lima Metro. The contract was signed in December 2009 with Peru’s Ministry of Transport and Communications under an emergency decree that altered the project’s administrative and budgetary framework. In April 2019, Jorge Barata alleged that both companies participated in a bribery arrangement and that Graña y Montero paid US$3 million in connection with the award. The company’s management said it lacked information to confirm or deny the claim. The allegation was followed by a reported 7.4% decline in the company’s Lima-listed shares. Lima mayor Jorge Muñoz also stated that the company would no longer execute the Vía Expresa Sur project because of the background. The comptroller was reported to have estimated the project’s cost overrun at US$400 million. In November 2020, the company changed its name to AENZA. This rebranding closed the principal corporate chapter under the Graña y Montero name, although the former name remains historically associated with Peru’s construction and infrastructure sector and with the Odebrecht-related investigations.
- 2020
Renamed AENZA
[1]In November, Graña y Montero adopted the AENZA name.
- 2019
Lima Metro allegations publicized
[1]An allegation by former Odebrecht executive Jorge Barata concerning Line 1 of the Lima Metro led to renewed scrutiny and a reported fall in the company’s Lima-listed shares.
- 2017
South Interoceanic Highway investigation
[1]The company became part of investigations into the Conirsa consortium after Odebrecht disclosures about illicit payments.
- 2013
New York Stock Exchange listing
[1]The reference material states that Graña y Montero listed on the New York Stock Exchange.
- 2009
Electric Train Consortium formed
[1]Graña y Montero joined Odebrecht in a consortium for sections 1 and 2 of Line 1 of the Lima Metro.
- 1983
Fiftieth anniversary
[1]The company marked fifty years and began a further stage of expansion into major projects.
- 1933
Company founded
[1]Graña y Montero originated as a Peruvian real-estate and construction company.
Products and positioning
Large-scale engineering, construction, and infrastructure project delivery in Peru and selected Latin American markets.
EPC and construction · 1933
Engineering and construction services
The group’s core business involved engineering, procurement, construction, and project execution for buildings, civil works, industrial facilities, and public infrastructure. Its work ranged from private and commercial properties to complex, multi-year projects requiring coordination across design, construction, and specialized contractors.
Infrastructure
Transportation infrastructure
Graña y Montero participated in major transport projects, including airports, highways, and Lima Metro Line 1. Its cited portfolio also includes the Interoceanic Highway, a road connection linking Peru and Brazil, reflecting the group’s role in national and regional infrastructure development.
Energy infrastructure
Energy and gas projects
The company delivered engineering and construction work for energy-related facilities, including the Camisea Gas Project. Energy work formed part of the group’s broader diversification beyond buildings and conventional civil construction.
Mining services
Mining projects
Mining engineering and construction became a significant area of activity in Peru and Chile. The group’s mining work complemented its infrastructure and energy businesses and exposed it to large industrial projects requiring specialized construction capabilities.
Building construction · 1933
Buildings and real-estate developments
The company’s built-environment portfolio included residences, hotels, commercial properties, and other major buildings. Cited examples include Larcomar, the Lima Sheraton Hotel, the Westin Hotel in Lima, the Four Seasons Hotel in Mexico City, and Lima’s first Sears Roebuck store.
Controversies
2019
Lima Metro Line 1 bribery allegations
Former Odebrecht executive Jorge Barata alleged that Graña y Montero participated in improper payments associated with the award of sections 1 and 2 of Line 1 of the Lima Metro. Graña y Montero’s management said it could not confirm or deny the allegation based on information then available. The matter generated market and political repercussions.
2017
South Interoceanic Highway and Conirsa investigation
Graña y Montero was investigated as a member of the Conirsa consortium responsible for sections 2 and 3 of the South Interoceanic Highway. The proceedings followed Odebrecht’s admissions concerning improper payments in Latin American projects. The cited account describes investigative and preventive procedural measures, not a final determination of guilt.
Brand decisions
2020
Corporate rebranding as AENZAStrategyBackground
After decades operating under the Graña y Montero identity and amid reputational damage associated with Odebrecht-related investigations, the group changed its name.
Action taken
In November 2020, the company adopted the AENZA name.
Aftermath
Graña y Montero became the former corporate brand, while AENZA became the group’s subsequent identity.
Sources1 sources
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