Mota-Engil signs 9 contracts in Latin America
The Sino-Portuguese construction company Mota-Engil has signed 9 contracts in several Latin American countries including Brazil, Mexico and Peru.
By doing so, it has achieved its aim of “increasing its size, profitability and presence in these markets”.
The value of these nine contract awards is around €890 million. In Brazil the construction giant won an offshore maintenance service contract to be carried out within1,490 days at a value of €743 million reais (€140 million) with a consortium controlled by oil giant Petrobras.
In Latin America it has signed other contracts in Mexico, Brazil and Peru worth around €750 million; three times its business turnover in 2022.
“With the adjudications announced and the strong levels of production underway in the first months of 2023, the group has consolidated its activity levels for the next few years at historically high levels”, states the group led by Carlos Mota Santos whose main shareholder is the China Communications Construction Company (CCCC). (23%)
At the end of May, Mota-Engil also won a decade’s long contract to operate two airports in Nigeria – Abuja and Kano – in partnership with Corporación América in what will be the company’s largest contract ever.
According to a communiqué from CaixaBank/BPI on Mota-Engil, its first review of the company since its presented its results in 2022 in March, the company’s value has shot up 23% to €4.78 per share — compared to €3.89 Euros.
Mota-Engil increased its annual profits by 69% for 2022 to €41 million after its activity grew 47% to a “a record level of turnover (in terms of contracts) of €3.8Bn which will be achieved by 2026.