Portugal’s Mota-Engil wants to grow 30 pct this year in Angola

25 June 2007

Porto, Portugal, 25 June – Portuguese construction company Mota-Engil expects its turnover in Angola this year to rise by 30 percent, to over 400 million euros, the chairman of Mota-Engil Engenharia said in Porto Friday.

Arnaldo Figueiredo said he was “totally surprised” by the “dynamism” of the Angolan market, which was currently the company’s main foreign market, accounting for 16 percent of revenue.

Saying that Angola was for Mota-Engil “almost a domestic market, like Portugal” Figueiredo noted growth of “above market level” with turnover reaching 70 percent in 2004/2005 and 45 percent in 2005/2006, to US$311 million in that year.

Figueiredo said that in 2007 growth of around 30 percent was expected for overall turnover.

Mota-Engil, which has been working in Angola since 1946, has 3,700 workers in the country, which is responsible for 35 percent of the company’s international turnover.

Mota-Engil began directly investing in Angola in 1980 and since then has set up several local companies.

Currently, Martifer, which is owned by Mota-Engil, is investing 15 million euro in a factory to be built in the Angolan municipal area of Viana.

According to Figueiredo Mota-Engil has also been approved to set up a logistics and transport company in Angola. (macauhub)