Mota-Engil starts 2024 with $1bn of projects in Angola and Mexico

The Corimba housing development will be located on the Luanda seafront (Fabian Plocku/Dreamstime)
Portuguese contractor Mota-Engil has signed three contracts in Angola and another in Mexico together worth $1.1bn.

The company’s African subsidiary said Monday that Angola’s public works ministry had picked it to build a 2,000-unit social housing scheme on the Corimba waterfront in the capital, Luanda.

This three-year contract is worth $670m.

It also won a second contract for the ministry to fix infrastructure in Luanda’s Nova Vida quarter.

Built between 2003 and 2012, the quarter needs work on its paving, water supply, drainage and sewage treatment. That contract will have a duration of two years and an initial value of around $230m.

The third scheme is a border post on Angola’s frontier with the Democratic Republic of Congo.

In Mexico, Mota-Engil will build a $110m road on the outskirts of Mexico City.

Mota-Engil is the largest builder in Portugal, and has strong links with African countries, especially former Portuguese colonies such as Angola.

Reuters reports that its share price came close to tripling last year as it benefited from the post-pandemic building boom.

It had a revenue of $4.3bn in the first nine months of 2023 and was on track to achieving its full-year turnover goal of more than $5bn.

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