Mota-Engil nets €115 million Angola contract
Mota-Engil has signed a €115 million contract to build water collection, treatment and distribution infrastructures in Angola.
One of Europe’s Top 25 construction companies, Mota-Engil, which has big ticket projects in Central Europe, Mozambique and South America, announced the contract in a notification sent to the Portuguese securities commission CMVM this week, while the project is also highlighted in its corporate magazine ‘Sinergia’ for March 2020.
The project is being financed by the World Bank and in total will cost around €290 million of which €115 million is the share designated to Mota-Engil which will carry out the works in partnership with Soares da Costa and Suez.
The construction giant states that the “financing from the World Bank shows the relevance of the project to the country”.
Moreover, it is a project that allows Mota-Engil to reduce its risk in a notoriously risky market in which construction companies have been badly burnt in the Angolan market, a goal that it has been “looking for in its commercial activities and expansion plans in traditional markets.”
“This new contract is an addition to a robust portfolio of orders in Africa and bolsters the performance sustainability that the group has maintained in the region,” states the construction company.