Angola: Edifer invests 154 million euros in three new projects in Angola

3 April 2009

Luanda, Angola, 3 April – Portuguese construction group Edifer plans to invest over 154 million euros in three new projects in Angola, the country that accounts for almost half of its business outside Portugal, said the group’s chairwoman, Vera Pires Coelho.

The funds will be divided amongst projects to refurbish and expand the Benguela municipal market and construction of the Kojima condominium and the Skina Hotel, both in Luanda.

The Portuguese construction company, which is present in Angola via a partnership with the Gema group (which has the remaining stake of 30 percent), has a project portfolio in the country valued at 812.5 million euros (US$1.05 billion), which accounts for 48 percent of all investments in the various countries in which the group is present (US$1.703 billion).

The group’s turnover in Angola is accounted for by three companies that all deal with construction, said Pires Coelho, which “has been a competitive advantage to offer to investors.”

Edifer Angola accounts for 693 million euros, Construções Fortaleza for 77 million euros and Tecnasol Angola for 38.5 million euros.

Amongst the various projects it is involved in in Angola the group highlights the reconstruction of two roads in Kuanda-Kubango, the construction of two office buildings in the capital (Luanda Plaza and Hotel Maianga) and the sports pavilion in Cabinda.

Also in Luanda, the Nkruma residential building, a shopping centre on Avenida Comandante Gika, the Luanda Inn and Retail Park apartments and Hotel VIP Inn Executive in Viana are under construction.

Outside the construction sector the group has real estate investments totaling some 268 million euros and aims to establish public-private partnerships that will make it possible to enter other business sectors, such as health and infrastructures. Some investments are already being prepared in the environment sectors, more specifically in water supply and treatment. (macauhub)