Mota-Engil nets €580 million contract in Mexico
The construction company Mota-Engil has netted a €500 million contract for a project that includes the construction, operation and maintenance of 55 km of road in the city of Nayrit.
The news was sent to the Portuguese stock market commission CMVM on Tuesday, 21 June. The project will be divided between 26 km of greenfield construction, 18 km of works to be completed, and 11 km of initial rehabilitation.
Regarding the construction period, the estimated time is two years with maintenance and operations over eight years.
“The project will carry no risks to traffic, and is covered against inflation given that the payments available will be updated in line with the actual inflation rate”, states the communiqué.
The Mota-Engil Group operates in 24 countries on three continents: Europe, Africa and Latin America.
The company was founded in 1946 by António da Mota in Amarante, at that time called Mota & Companhia. It also operated in Angola until 1974 on forestry and wood manufacturing and from 1948 in construction and public works.
Today, part Chinese owned, it is the largest multinational construction company of Portuguese origin, its financial results stood at €-45 million in H1 2021, a deterioration of €3 million like-for-like on H1 2020.
For the whole of 2021 its net profit was €22 million, turnover was €2,656 million, net debt €1,118 million, EBITDA €411 million, and CAPEX €213 million.