Portuguese construction companies accept payment of half Angola’s debt

8 January 2007

Lisbon, Portugal, 8 Jan – Portuguese construction companies Mota-Engil, Soares da Costa and Teixeira Duarte said Friday in Lisbon they had reached and agreement with the Angolan government to receive to half of the debt owed to them.

In a statement filed with Portuguese stock market regulator, CMVM, Mota-Engil said it had received confirmation of payment of over US$65 million, which corresponded to a pardoning of 50 percent of the debt owed by the Angolan state.

Soares da Costa also said that it had accepted to receive around US$32 million from the Angola state, which is also just half of what the country owed the Portuguese construction company.

Teixeira Duarte also said in a statement that, as part of the protocol signed by the Angolan and Portuguese republics, the company had accepted the immediate payment of US$53 million, corresponding to 50 percent of the overall debt owed to it by the Angolan state. (macauhub)