# FORM 6-K
SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549

# Report of Foreign Private Issuer

# Pursuant to Rule 13a-16
or 15d-16of the Securities Exchange Act of 1934

For the month
  of January, 2005 Commission File Number 1-11080

THE ICA CORPORATION
HOLDING COMPANY(Translation of registrants name into English)

Minería No. #14511800 México D.F.
(Address of principal executive offices)

Form 20-F....X.....Form 40-F.........

Indicate by check mark if the
registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule
101(b)(1): ____ 

Indicate by check mark if the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule 101(b)(7): ____ 

Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby
furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934.

Yes ..... No...X...

If Yes is marked, indicate
below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-
________

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| | PRESS
        RELEASE
| | ---------------------
|

|For more information contact:
      Ing. Alonso Quintana(5255) 5272-9991 x3653alonso.quintana@ica.com.mx
      Lic. Paloma Grediaga(5255) 5272-9991 x3664paloma.grediaga@ica.com.mx | in the United States: Zemi Communications
      Daniel Wilson
        (212) 689-9560d.b.m.wilson@zemi.com
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------



# 



ICA CLARIFIES S&P RATING FOR FOREIGN CURRENCY DISCLOSED IN THIRD QUARTER 2004, EARNINGS RELEASE



Mexico City, January 11, 2005 Empresas ICA Sociedad Controladora, S.A. de C.V. (BMV and NYSE: ICA), the largest engineering, construction, and procurement company in Mexico clarifies with respect to the disclosure made by ICA in the presentation of its third quarter 2004 results, released in October 28, regarding the credit rating granted by S&P for foreign currency debt, the Company would like to clarify that the correct rating is "B-", not "BB-" as published in the report.



ICA was founded in Mexico in 1947. ICA has completed construction and engineering projects in 21 countries. ICAs principal business units include civil construction and industrial construction. Through its subsidiaries, ICA also develops housing, manages airports, and operates tunnels, highways, and municipal services under government concession contracts and/or partial sale of long-term contract rights. For more information, visitwww.ica.com.mx.





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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: January 12, 2005

| | Empresas ICA Sociedad Controladora,
      S.A. de C.V.                                        
| | ----------------------------------------------------------------------------------------------
| |                                                                                               
| | /s/ JOSE LUIS GUERRERO
      Name: Dr. José Luis Guerrero
      Title: Vice President, Finance