Mexico's Constructora y Edificadora GIA+A will build the Government Civic Center in Tegucigalpa, a $200 million project, Honduran President Juan Orlando Hernandez said.

The project, which will house most government agencies in the Honduran capital, will be one of the most modern facilities in Central America and will save about 300 million lempiras ($13.1 million), Hernandez said.

The government complex has been a dream for more than 50 years, the president said.

The Mexican company, which won the bidding for the contract, will be responsible for developing the public-private project in the Honduran capital.

The Government Civic Center is a project created by the Commission for the Promotion of Public-Private Alliances, or Coalianza, and Banco Lafise Honduras, and it will be managed via a trust.

The $200 million invested in the project will be provided by "the company awarded the contract," the Office of the President said.

The project will create 5,000 direct jobs, 20,000 indirect jobs and 750 permanent jobs. EFE