Brazil’s Odebrecht expects revenue to rise by a third in Angola and wants to enter Mozambique

3 October 2007

Sintra, Portugal, 3 Oct – Brazilian group Odebrecht expects to see growth of its revenue in Angola of “above the average of the other markets,” and is preparing to enter the Mozambican market, the company’s chairman said in Sintra, Portugal, Thursday.

Speaking to Portuguese news agency Lusa on the sidelines of an international meeting, Marcelo Odebrecht said that the Angolan market now accounted for some 10 percent of the group’s revenue, which last year posted turnover of nearly 30 billion Brazilian reals.

“We are experiencing large growth in the infrastructure market globally, and our priority is Africa, Latin America and the United Arab Emirates,” Odebrecht said.

In Angola, the group has interests in construction, diamond mining, oil prospecting and, more recently, real estate promotion.

A few weeks ago, the company announced the launch of five real estate developments in Luanda.

Odebrecht also won public tenders for construction of 186 kilometers of highways, between the capital and other provinces, as well as from Benguela to other destinations, as well as building works included in the Integrated Infrastructure Development Program of Cuanza Sul province.

The Brazilian company is also involved in refurbishment of the Gove Dam, the construction of sub-stations and installing transmission cables.

Odebrecht added that the group was “in discussions” to enter the Mozambican and Algerian markets.

In Africa, the group operates in Libya and Djibouti, as well as Angola. (macauhub)