Soares da Costa Moçambique awarded projects worth US$20 million

24 February 2015

Portuguese-owned construction company Soares da Costa Moçambique will lead four projects worth a total of US$20 million, including the construction of two courthouses, the company said in a statement sent to Macauhub.

Soares da Costa was awarded the contracts by the Mozambican Justice Ministry and will build two “palaces of justice”, one of which the city of Nampula (north), the capital of the province of the same name, and the other in the town of Guro, Manica province (centre).

In the press release, which did not specify the value of each project, the company says it will restore the Xai-Xai suspension bridge over the Limpopo River, in Gaza province (south), built during the colonial era in 1964, and which is currently managed by the National Roads Authority (ANE).

The fourth project involves construction of railway signage structures along the Nacala Corridor linking the Moatize coal region, in Tete province, to the deep water port of Nacala-a-Velha, in Nampula, a distance of over 900 kilometres, crossing part of the southern region of Malawi.

This work will be carried out forBrazilian-owned company Vale Moçambique, which has a 70 percent stake in the Nacala Logistics Corridor, of which it intends to sell half to Japan’s Mitsui & Co, a deal that is only expected to be completed by the end of the year.

The four projects are scheduled to be built this year and by the end of the second half of 2016, the company said.

In late 2014, Soares da Costa announced annual turnover of around 100 million euros (about US$113.6 million) at its subsidiary in Mozambique, an increase of 20 percent over the same period, driven by large coal sector projects, with Vale Mozambique, and gas projects, with US group Anadarko Petroleum.

In addition to Portugal and Mozambique, the construction company is also present in Angola and Brazil, and also does business in other countries, such as Sao Tome and Principe, Oman, Swaziland and Venezuela.

Construction in Mozambique in 2014 accounted for around 25% of the company’s portfolio, while Angola had a substantially higher weighting of 60 percent, leaving Portugal and other countries with the remaining 15 percent. (macauhub/AO/MZ/PT)