Builder Mota-Engil gets $1 bln in new Angola, Mexico deals, shares rise

Mota-Engil, SGPS

23/01/2024 10:50

LISBON, Jan 23 (Reuters) - Portugal's largest builder
Mota-Engil has signed four contracts worth a total 975 million
euros ($1.06 billion) in Angola and Mexico, strengthening the
order book in Africa and Latin America - its main markets - and
causing its shares to rise on Tuesday.
    The company said late on Monday its new contracts with the 
Angolan government included the Corimba waterfront construction
and social housing in the capital Luanda, as well as a border
post on Angola's frontier with the Democratic Republic of Congo.
    The three Angolan contracts are worth around 875 million
euros.
    In Mexico, the builder will participate in the construction
of a road on the outskirts of Mexico City worth around 100
million euros.
    Mota-Engil shares, which nearly tripled in value last year
as post-pandemic construction activity boomed,  were 2% higher
in early trading, outperforming the broader market in Lisbon,
down 1%.
    The construction company, which operates in 20 countries
across Africa, Europe and Latin America, posted overall sales of
4.02 billion euros ($4.30 billion) in the first nine months of
2023 and was on track to achieving its full-year turnover goal
of 5 billion euros.    

($1 = 0.9183 euros)

 (Reporting by Patrícia Vicente Rua; Editing by Andrei Khakip)
 ((patricia.rua@thomsonreuters.com; +351 21 123 2775; Reuters
Messaging: patricia.rua.reuters.com@reuters.net))