Brazilian company Andrade Gutierrez Engenharia awarded work in Angola

4 January 2017

Brazilian company Andrade Gutierrez Engenharia said it had been awarded a contract worth US$82 million for the completion of rehabilitation, expansion and modernization of the airport runway in the city of Dundo, capital of Lunda Norte province in Angola.

The company said the contract had been signed on 26 December at the Angolan Ministry of Finance and that it had actively participated in setting up a credit line, alongside the government of Angola.

The funding will be guaranteed by a syndicate of international banks led by KfW IPEX-Bank (Germany) and includes the participation of the Development Bank of South Africa (DBSA) and Banco Bilbao Vizcaya Argentaria (BBVA, Spain), among other banks as co-signatories.

According to the Brazilian company, this credit line will allow the Angolan government to pay the amounts due for work already carried out and guarantees the payment of the work, whose completion is scheduled for October 2017. (macauhub)