Mota-Engil To Invest $36m In Zambia

19 July, 2013 by skassociates in Ventures Africa

VENTURES AFRICA- As part of its expansion plan on the African continent, Portugal’s biggest construction firm, Mota-Engil, said it plans to invest $36 million in Zambia.

The announcement was made following a €118 million ($154 million) contract awarded to the firm – to build a 240km T-4 Great East Road that will connect Zambia and Malawi.

Mota-Engil CEO, Gilberto Rodrigues said the project stretching from Luangwa Bridge in Luangwa to Mwami border post in Chipata is a milestone in improving trade links from Zambia to the Nacala corridor and beyond.

Road rehabilitation is one of Zambia’s planned channels to open new trade corridors.

The European-Union funded project is Mota-Engil’s first work in Zambia and it is expected to create about 3000 jobs. It will start in September will be completed in two years time.

Mota-Engil’s corporate Affairs consultant has engaged Kapa Investments Ltd and Mahogany Mining Ltd in the development of the project as part of the company’s commitment to engage local firms.

Mota-Engil had announced earlier in March that it planned to enter new markets in Africa including Ghana, Kenya, Uganda and Zambia. It said it is seeking $5 billion of contracts on the continent.

Rodrigues lauded Zambia as a condusive investment destination for the company, adding that his firm is ”confident that it will grow and contribute to Zambia’s development.”

Mota-Engil, a multidisciplinary construction company is seeking other investment avenues in the energy and mining sectors.

http://www.ventures-africa.com/2013/07/mota-engil-to-invest-36m-in-zambia/

 

Copyright © 2014 SK Associates, All rights reserved