Ferrovial-Agromán Internacional (F&A) has started work in the updating project of Residencial Santigo Iglesias, in Ponce, Puerto Rico. This project, the first to be carried out by F&A in the country, has a budget of Pta 1.5 billion. The project involves the reconditioning and updating of 180 homes, including inside an outside common areas improvements, landscaping works and a new urbanization. The project, extensible to the updating of 350 homes in a second stage, is financed with United States Federal Funds. The first incursion of F&A in the country has been strengthened by the opening of a Delegation in San Juan de Puerto Rico, enhancing F&As delegation network in Latin America: Chile, Colombia, Dominican Republic, Bolivia, Ecuador, Uruguay and Haiti. In this way, the Groups strategy of carrying on with its international activities is ratified. Ferrovial-Agromán Internacional has currently a works backlog only in foreign markets of Pta 90 billion, expecting to close 1997 with revenues in excess of Pta 30 billion.