Angola: Brazil’s Odebrecht invests over US$600 million in Angola

19 June 2008

Luanda, Angola, 19 June – Brazilian group Odebrecht currently has a investments in Angola totalling over US$600 million, the company’s chairman, Emílio Odebrecht said Wednesday in Luanda.

Speaking to journalists at the end of an audience with the Angolan president, Odebrecht noted that the level of investments mentioned related to projects underway, but said that “many others” were being prepared in Angola, particularly for the interior of the country.

Despite construction being Odebrecht’s main business in Angola, particularly construction of roads and bridges, the chairman of the Brazilian group noted the food sector for a venture in the near future.

ALongside some Portuguese and Chinese construction companies, Odebrecht is one of the protagonists of national reconstruction started by Angola after the end of its civil war in 2002, leveraged by revenue from oil exploration and high price of oil on international markets.

Maize and sugar are part of the list of goods that the Brazilian company wants to invest in in Angola, announcing that, in Malange province some of these projects are already moving ahead. (macauhub)