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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3 comments:
any new jobs in these hard times are welcome
Thanks atleast this move of Mota-Engil will surely bring more jobs for skilled & unskilled labours in the country.
- Morbi
This article is really very nice and also the way you describe the post is also good and easy to understand. The Ceramic Tiles are also very useful for the flooring.
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