Portugal’s Geo-Rumo invests 25 million euros in Angolan subsidiary

18 August 2009

Braga, Portugal, 18 Aug – Geo-Rumo, a special foundations company of Portugal’s FDO group, said Monday in Braga, northern Portugal, that it had invested 25 million euros in the creation of a subsidiary on Luanda Island in Angola.

In a statement the Braga-based company said that the company set up in Angola, Geo-Rumo Angola, would cover the main activities of foundations engineering, such as moulded walls, pilings, and jet-grouting.

The expansion is part of a partnership between FDO and another Braga-based construction company, ABB, as the two companies are jointly involved in some international markets.

The first work carried out by Geo-Rumo Angola is due to begin in September, on a new construction project in Luanda and Geo-Rumo recently launched a number fo projects on the French market.

The FDO Group was founded in 1980 and its main business areas are the construction and public works sectors, real estate promotion, shopping centres, hotels, car parks and services, the environment and energy.

The company already has branches in France, Spain, Angola, Morocco and Poland. (macauhub)