Portugal’s Soares da Costa contracted in Angola for requalification of part of Roque Santeiro area

1 August 2011

Lisbon, Portugal, 1 Aug – The Soares da Costa SGPS group announced in a note issued by Portugal’s Securities Market Commission (CMVM) that its Angolan subsidiary has been contracted for requalification work in the project for the Municipality of Sambizanga and Encostas de Boavista in Luanda, partly in the area of the former Roque Santeiro market.

The project was launched by the National Directorate of Public Infrastructures of the Ministry of Urbanism and Construction and covers an area of nearly a thousand hectares.

The work includes the building of public rainwater drainage infrastructures and of an electric power supply infrastructure and public lighting network.

The deadline for completion of the project, worth US$90 million, is 12 months.

Angolan authorities indicated that the first project phase, budgeted at approximately US$99 million, consists of building social infrastructures on the Roque Santeiro perimeter, a Miramar/Campo Mário Santiago/Rotunda da Boavista/Estrada Lueji Anconda road link, potable water treatment stations, sewers and electric power.

The second phase, assessed at US$95.1 million, comprises the building of 3,000 three-bedroom residences in a 12-month period, while the third involves the construction of a 3,000 metre long tunnel, 16 metres wide, from the Miramar area to São Paulo.

The work in this phase should last 20 months and cost US$34,748,755.

The fourth and last project phase, budgeted at nearly US$22 million, will have a 12-month deadline and consist of work on protection, stabilisation and exterior arrangements, as well as the creation of social facilities on the slopes of Boavista and Sambizanga.

The area’s requalification project involves the promotion of social housing consisting of single-floor residences and buildings with up to four floors. (macauhub)