Porto, Portugal, 4 Jan – Portugal’s Mota-Engil group has formalised a new partnership in the construction area, in the wire drawing (tiles) sector, via Mota-Engil Angola, indicates a note sent last Wednesday to the national market regulator (CMVM).
The group reported it had established a partnership “with the Fapricela company to build an industrial drawing unit in Benguela province in Angola.”
Mota-Engil’s new partner is the “market leader in Portugal in the wire drawing industry and transferred most of the capital of the company it held in Angola, Fatra.”
Mota-Engil Angola will hold “a 70 percent stake in Fatra and in the first phase plans call for an investment volume above US$15 million” in 2010 alone, the note indicates.
This phase will create about 75 jobs. “New investments are planned in a later phase, so that Fatra can expand its offer of wire-drawn products and become a reference company in Angola.”
Mota-Engil has been investing in various activity sectors in Angola, ranging from construction to energy, via its subsidiary for that country.
Mota-Engil’s partner is a group of Angolan investors headed by the state oil company Sonangol, with a 41 percent stake. The Portuguese group controls the remaining 51 percent. (macauhub)
Source: Portugal’s Mota-Engil group invests in tile production in Angola
Monday, January 4, 2010
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