Portugal’s Mota-Engil to build container terminal in Luanda, Angola

19 June 2009

Lisbon, Portugal, 19 June – Portuguese construction group Mota-Engil has been awarded a contract in Angola to build a container terminal in Luanda, Portuguese newspaper Jornal de Negócios reported.

The project is due to be delivered in June, 2010 and the capacity of the container terminal at the port of Luanda will rise from 150,000 TEU (twenty foot equivalent units) to 204,500 TEU.

Last Tuesday the group announced it had signed a memorandum of understanding to set up an Angolan company, Mota-Engil Angola, with a consortium mainly made up of Sonangol and the BPA bank.

In a statement filed with Portuguese stock market regulator CMVM, the construction group said that Mota-Engil Angola would be 51 percent-owned by Mota-Engil Engenharia e Construção and 49 percent by the Angolan consortium, with Sonangol and BPA (Banco Privado Atlântico) with stakes of 20 and 11 percent, respectively.

The consortium also includes investment banks Finicapital and Globalpactum.

Mota-Engil Angola will be set up by integration of the assets of Mota-Engil Engenharia in Angola within a maximum period of a year. (macauhub)