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The project, structured as a 30-year public-private partnership (PPP), is due to break ground in the first half of next year.
Graña y Montero will be responsible for the construction of nine treatment facilities that will benefit 10 Puno provinces, local newspaper Diario Correo reported.
The project is designed to improve wastewater management in the lake Titicaca basin via treatment plants and sewerage systems.
Regional authorities estimate the new facilities will have the capacity to treat up to 96.5% of wastewater produced by homes and businesses in the Titicaca basin.
San Román, Puno, Azángaro, Melgar, Huancané, Moho, El Collao, Chucuito, Lampa and Yunguyo are the provinces that will benefit from the project.