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Heat sugar in small, heavy-duty saucepan over medium-low heat, stirring constantly, for 6 to 8 minutes or until dissolved and caramel-colored. Pour onto bottom of 9-inch-round cake pan; quickly swirl around bottom to coat.
Place evaporated milk, LA LECHERA, eggs, cinnamon and nutmeg in blender; cover. Blend for 5 seconds. Pour into prepared pan; cover lightly with foil. Place pan in large roasting pan; fill roasting pan with warm water to about 1-inch depth.
Bake for 1 hour or until knife inserted near center comes out clean. Remove flan from water. Cool on wire rack. Refrigerate for 4 hours or overnight.
To serve, run small spatula around edge of pan. Invert serving plate over pan. Turn over; shake gently to release.