Lisbon, Portugal, 20 Jan – Mota-Engil, Portugal’s largest construction company, is due to begin its first construction project in Sao Tome and Principe, entering the market with the aim of being involved in government infrastructure projects, particularly the country’s airport and deepwater port, the company said.
The port and modernization of the international airport are each expected to cost around US$200 million and their respective viability studies are due to be finished in the first quarter of 2006, the Sao Tome government has said.
Arnaldo Figueiredo, Mota-Engil’s director for international business told Portuguese financial daily Jornal de Negócios Thursday that, “there are interesting projects within the realm of basic infrastructures that are expected to go ahead in the country thanks to the oil drilling business.”
In March Mota-Engil is due to begin work on a real estate development in the West African archipelago, after having set up a construction business on the islands, Figueiredo said.
The first stage of the development, which is expected to be finished within a year and includes the construction of a residential and commercial building on a plot bought by Mota-Engil located in the city of Sao Tome.
According to Figueiredo the project included parking and landscaping of the surrounding area and a second stage of the development was already being assessed. (macauhub)