Portugal: Mota-Engil construction group prepares to set up Angolan company

27 May 2009

Lisbon, Portugal, 27 May – Portuguese construction group Mota-Engil is planning to set up an Angolan company, whose share capital will be opened up to businesspeople from the West African country, although it will operate as a subsidiary of the group, the group’s chairman, António Mota said in Lisbon Tuesday.

During a meeting to promote the activities of the business council of ELO – Portuguese Association for Economic Development and Cooperation, Mota said that a partnership would be established based on a similar model to that adopted by banks Millenium bcp and BPI, which have Sonangol and Unitel, respectively, as shareholders in Angola.

Speaking about activities in Angola, Mota said that Mota-Engil had a very “comfortable” portfolio of orders in the country worth US$600 million, which this would provide turnover of US$390 million.

Mota also said that the Mota-Engil group was looking into a project to that “very soon” it would invest in the construction of social housing in Angola.

There is a need to build 2.5 million social houses in Angola over the next few years and Mota-Engil has its eye on this potentially profitable sector.

The Mota-Engil group wanst to continue growing in Angola in the construction sector, Mota said, noting that the African country had three priority areas for investment: Construction materials, the environment and renewable energy sector, specifically mini hydroelectric facilities.

The chairman of the board of Mota Engil also noted that as well as these areas Angola still had “everything left to do” and noted areas such as agri-industry, fisheries, agriculture and distribution.

Mota-Engil is also setting up a consortium with local and international partners to compete for the plan for construction of mini-hydro facilities in Angola.

“In Angola we will build, produce and sell electricity to the grid. I’m talking about various cities in the country that need power for development and economic growth to occur,” he said. (macauhub)