Angola set to account for half of turnover of construction company Soares da Costa

28 March 2006

Lisbon, Portugal, 28 March – The turnover of Portuguese construction company Soares da Costa in Angola totaled 137 million euros last year and should account for almost half of overall turnover this year, the company’s chairman said Monday.

In an interview with Portuguese news agency Lusa, Pedro Gonçalves said that Soares da Costa, which had been operating in Angola for 25 years, had a portfolio of work worth 300 million euros in that West African market.

Turnover in Angola had, he said, increased by a third overall, and increased the weight of the market on the company’s total turnover to 42 percent.

In order to take advantage of the growth of the Angolan economy, forecast by the government at 28 percent, the Portuguese construction company “aims to continue growing in Angola, and can expect to boost its presence in other parts of the country,” he said.

This year, Soares da Costa’s main projects are concentrated on the capital, Luanda, and include the new headquarters of state oil company Sonangol, as part of a consortium with South African builder Grinaker LTA.

Also in Luanda, and in consortium with Mota-Engil Engenharia, Soares da Costa is building the Torres Atlântico complex, one of the main residential and office complexes in the capital.

Gonçalves also expects the company to increase its presence in Mozambique this year, driven mainly by the construction of a new bridge over the Zambezi River, in conjunction with Mota-Engil.

The bridge, which has a three year deadline to be built, will complete the road link between the north and south of Mozambique. (macauhub)