Angola: Brazil’s Odebrecht invests up to US$1 billion

27 March 2009

Luanda, Angola, 27 March – Brazilian group Odebrecht plans to invest between US$800 million and US$1 billion in various economic sectors in Angola, the Angola press reported Thursday.

According to Angolan news agency Angop, the investment was confirmed by the company’s chairman, Emílio Odebrecht after a meeting with Angolan President, José Eduardo dos Santos, Wednesday.

In relation to his meeting with dos Santos, Odebrecht told journalists that it served to “provide the President with an account of the things he entrusted to us, not only in the services area, but also in the area of Brazilian investments in Angola.”

At this meeting future cooperation areas were analysed and, consequently, the priorities of the Angolan government, namely creating new jobs.

In 2008, according to the chairman of the Brazilian group, Odebrecht invested heavily in construction, agriculture, real estate, and industry amongst other sectors and based on the “priorities of the government and new investments that we are looking into, all this could be carried out this year.”

Odebnrecht is a Brazilian business group that operates across the world in the constructin and petrochemical sectors. Odebrecht is made up of Odebrecht SA, which manages construction company Construtora Norberto Odebrecht SA, petrochemical company Braskem SA, ETH Bioenergia, Odebrecht Empreendimentos Imobiliários SA, Odebrecht Engenharia Ambiental SA (which operates in the Basic Sanitation and industrial waste treatment segments) and Odebrecht Investimentos em Infra-estruturas Lda.

Construtors Norberto Odebrecht was founded in 1944, in the northeastern Brazilian city of Salvador, by engineer Norberto Odebrecht. (macauhub)