Guinea Bissau requests EU financing to build bridge in Sao Vicente

31 March 2006

Lisbon, Portugal, 31 March – Guinea Bissau is negotiating with the European Union (EU) to finance the project for construction of a bridge in Sao Vicente, to the north of the country’s capital, a project valued at 25 million euros, the president of Portuguese construction company Soares da Costa, the project’s designer, said Friday..

Speaking to Macauhub, Pedro Gonçalves said that the negotiations underway with European authorities were to “agree the technical details of the work” which will have an affect on “the final price of the contract” and the financing model.

It is expected, he said, that the work will begin this year and be concluded within 30 months.

Last year, over 42 percent of Soares da Costa’s turnover 0 137 million euros – was generated in Angola, and this year it expects to increase this amount to 50 percent, driven by a project portfolio worth some 300 million euros.

Segundo Pedro Gonçalves, a construtora não tem sido afectada pela concorrência de empresas chinesas e brasileiras, e está até disponível para trabalhar em parceria com estas.

“The size of the market and the type of work we have focused on makes us believe that, so far, competition from construction companies from other countries ahs not slowed our growth,” Gonçalves told Macauhub.

In terms of partnerships with Chinese companies, which have been suggested by some of them, “there are no developments so far.”

However, Soares da Costa’s “policy is to set up partnerships and associations whenever these lead to synergies and complements for specific projects, without restrictions in terms of the nationality of the potential partners.”

Currently Soares da Costa is involved in building the new headquarters of Angolan state oil company Sonangol in consortium with South Africa’s Grinaker LTA and the Torres do Atlântico complex, in consortium with Portugal’s Mota-Engil. (macauhub)