A consortium headed by FCC has been awarded Mexico's largest water project: a 20-year concession to build and operate the Acueducto II project in Querétaro. Projected revenues amount to 330 million euro.

The construction investment required of the consortium amounts to 177.8 million euro.  With this project, the State government plans to move 50 million cubic metres of water each year from a semi-desert zone to the Querétaro metropolitan area.

Water will be pumped 108 kilometres from the north-east to the south-west of the state, crossing the Pánuco and Lerma-Chapala river basins. The water will be captured using a concrete gravity dam across the Moctezuma river (16 metres high, 100 metre crown); the consortium must also provide pumping stations, storage ponds, pipelines and a drinking water treatment plant with a rated output of 1.5 cubic metres per second to supply the 700,000 inhabitants of the greater Querétaro area. Construction will include 41.5 kilometres of roads, high-tension power lines and a communications system.