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

                        Report of Foreign Private Issuer

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


For the month of November, 2003

Commission File Number 1-11080

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

                                Mineria No. #145
                                ----------------
                                11800 Mexico D.F.
                                -----------------
                    (Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F.

                      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- ________




                     ENGLISH TRANSLATION OF SPANISH ORIGINAL

MATERIAL EVENT

EMPRESAS ICA SOCIEDAD CONTROLADORA, S.A. DE C.V.

Mexico City, November 17, 2003.

Empresas ICA Sociedad Controladora, S.A. de C.V., held a general shareholders'
meeting today; the shareholders' meeting was called pursuant to a notice
published in the El Universal newspaper on October 31, 2003.

I.- The general shareholders' meeting was called to order at 11:00am. The
general shareholders' meeting approved various resolutions relating to:

      (i)   the cancellation of treasury shares;
      (ii)  the Company's financial restructuring program; and
      (iii) an increase in capital stock, divided into two stages, which was
            proposed by the Company's board of directors and approved by the
            general shareholders' meeting in order to: (a) provide the resources
            required by the Company to carry out its financial restructuring
            program and (b) maintain sufficient shares in the Company's treasury
            to ensure the Company's timely compliance with its obligations
            derived from its outstanding convertible debentures and incentive
            programs for its officers and employees.

II.-The following events which were on the shareholders' meeting's agenda are
noteworthy:

      (i)   The cancellation of 71,736,606 treasury shares, without par value,
            which had been reserved as follows: (a) 40,826,063 shares for the
            conversion of convertible debentures into shares, (b) 12,364,217
            shares for the stock purchase plan and (c) 18,546,326 shares for the
            stock option plan.
      (ii)  The approval of the Company's financial restructuring program and
            the delegation to the Company's board of directors of the powers
            necessary to carry out such plan.
      (iii) An increase in the variable portion of the Company's capital stock,
            through the issuance of new shares, as follows: (a) an initial stage
            increasing the variable portion of capital stock by Ps.91,969,303.28
            (ninety-one million, nine hundred sixty-nine thousand, three hundred
            three and 28/100 pesos), through the issuance of 83,218,054 ordinary
            shares, without par value, which will be offered to the Company's
            current shareholders for subscription and payment at a price of
            Ps.3.75 per share, with a theoretical value of Ps.1.1051604654 per
            share, with any excess considered a share purchase premium. Once the
            subscription right has been authorized, any surplus shares from the
            first stage will be destined to: (aa) 52,307,511 treasury shares
            reserved for the conversion of the convertible debentures; (bb)
            12,364,217 treasury shares reserved for the stock purchase plan and
            (cc) 18,546,326 treasury shares reserved for the stock option plan;
            (b) A second stage increasing the variable portion of capital stock
            to obtain new resources to fund the financial restructuring program
            was approved in the amount of Ps.2,486,245,732.00 (two billion, four
            hundred eighty-six million, two hundred forty-five thousand, seven
            hundred thirty-two pesos), through the issuance of 1,243,122,866 new
            ordinary shares, without par value, which will be offered for
            subscription and payment by the Company's current shareholders at a
            price of Ps. 2.00 per share, the proceeds of which will be destined
            entirely to the equity of the Company with no share purchase premium
            for this stage. If both stages are subscribed completely and the
            financial restructuring program is carried out, the average
            theoretical value of the Company's shares will be adjusted to
            Ps.1.7017201551 per share.
      (iv)  The general shareholders' meeting resolved that any shares issued as
            part of the first stage of the capital increase be destined, once
            the preemptive rights period has expired, for the purposes
            established by the Company to meet its obligations derived from its
            outstanding convertible debentures and its incentive programs.
      (v)   In regards to the second stage of the capital increase, the general
            shareholders' meeting resolved to delegate to the Company's board of
            directors the authority to solicit any third party to subscribe for
            shares not subscribed by shareholders in exercise of their
            preemptive rights during the subscription period established by law;
            with the objective of obtaining the proceeds required to carry out
            the financial restructuring program, including the solicitation of
            Inversora Bursatil, S.A. de C.V., Casa de Bolsa, Grupo Financiero
            Inbursa ("Inbursa"), in accordance with the Collaboration Agreement
            for the Subscription of Shares. As has been previously communicated
            to investors, Inbursa, directly or acting on behalf of any third
            party, may participate in the capital increase and support the
            financial strengthening process of the Company. It was also resolved
            that the board of directors be delegated the widest powers to modify
            or add to any of the conditions of the Collaboration Agreement for
            the Subscription of Shares with Inbursa, based on terms as
            determined by the Company's board of directors.
      (vi)  Considering the foreign ownership restrictions in the Company's
            bylaws, the general shareholders' meeting resolved that participants
            in the capital increase must be Mexican citizens or Mexican
            corporations with a clause excluding foreigners. However, it was
            also resolved that the Company should carry out, to the extent
            possible, a new issuance of Ordinary Participation Certificates
            under the Trust administered by Banco Nacional de Mexico, or by any
            other fiduciary, without such action implying that the Company is
            offering subscription rights to shareholders in any jurisdiction
            other that the United Mexican States, considering the foreign
            ownership restrictions in the Company's bylaws and the urgency in
            successfully implementing the Company's financial restructuring
            program. The shares issued as a consequence of the capital increase
            will be registered in the Securities Section of the National
            Securities Registry of the National Banking and Securities
            Commission and in the Mexican Stock Exchange. The registration in
            the National Securities Registry does not imply any certification
            whatsoever regarding the value or solvency of the Issuer.
            Shareholders are notified that the offering of the share
            subscription will only take place in Mexico and the subscription
            rights can only be exercised through SD Indeval, S.A. de C.V.
            (INDEVAL). Current shareholders should contact their broker for
            information related to the exercise of their subscription rights.
            The rights offering will not be registered in any jurisdiction
            outside Mexico, and may be restricted by applicable law in certain
            jurisdictions. In particular, the rights offering will not be
            registered in the United States under the Securities Act Of 1933, as
            amended (the "Securities Act') and the rights may not be offered to
            or exercised by any person in the United States absent registration
            under the Securities Act or an applicable exemption from the
            registration requirements under the Securities Act. Shares that will
            be issued as a result of the capital increase can only be subscribed
            by physical or legal persons that comply with the prerequisites of
            the applicable law and bylaws of the issuer. In this regard, the
            fifth clause of the Company' bylaws specifies that only Mexican
            citizens or Mexican corporations with a clause excluding foreigners
            may subscribe for new shares of the Company.
      (vii) As previously agreed by the Company's board of directors, it was
            resolved to proceed with the issuance and exchange of new shares.
            With the understanding that the subscription rights of both stages
            of the capital increase will only be available to current
            shareholders and that any exchange will be a subsequent event once
            the Company's board of directors has resolved upon the issue.

III.- During the extraordinary general shareholders' meeting held yesterday at
1:00 PM, various amendments to the bylaws were approved in order to bring the
bylaws into accordance with the General Dispositions Applicable to Security
Issuers and Other Participants in the Stock Exchange and other amendments
regarding the minimum fixed portion of equity, without modifying the number of
outstanding shares and means for preemptive rights resulting from capital
increases that do not imply a transfer of new resources by the shareholders,
among others.



                                    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: November 19, 2003


                                          Empresas ICA Sociedad Controladora,
                                          S.A. de C.V.

                                          /s/ JOSE LUIS GUERRERO
                                          --------------------------------
                                          Name:   Dr. Jose Luis Guerrero
                                          Title:  Vice President, Finance