Mexican phone company Telefonos de Mexico SAB (TMX) and French technology concern Thales SA (HO.FR) won a contract to install 8,000 security cameras in Mexico City, Mayor Marcelo Ebrard said.

Ebrard told reporters Thursday that the consortium formed by Telmex and Thales was chosen over others, including Spain's Indra (IDR.MC) and Israel's Elbit (ESLT).

Annual investment in the project is between 1.2 billion pesos ($79 million) and MXN1.3 billion until completion, Ebrard said, according to a transcript on the city government's Web site. The project is expected to take three years to complete.

Ebrard said details will be released Monday. Telmex declined to comment.

-By Anthony Harrup, Dow Jones Newswires; (5255) 5001 5727, anthony.harrup@dowjones.com