Luanda, Angola – (African Boulevard News) – Brazilian construction group Odebrecht has marked its return to Angola with the signing of several significant new contracts, demonstrating its resilience after a five-year absence.
The company has secured new deals worth hundreds of millions of dollars in the mining and infrastructure sectors. Odebrecht’s return comes as Angola looks to diversify its economy beyond oil and gas and stimulate growth after years of recession.
Odebrecht was previously heavily involved in Angola’s construction industry, with a particular focus on infrastructure and energy projects. However, the company withdrew from the country in 2016 amid a corruption scandal that saw several of its executives arrested.
Now, with the Angolan government’s efforts to attract foreign investment and diversify the economy, Odebrecht has returned to the country. The company has already secured contracts to build and upgrade transport links, water supply systems, and mining infrastructure.
In a statement, Odebrecht said that it is “committed to contributing to Angola’s social and economic development” and “looks forward to continuing its partnership with the Angolan government.”
The return of Odebrecht has been welcomed by many in the industry, with experts highlighting the company’s expertise and strong track record in Angola.
“Odebrecht is a well-respected company in the Angolan construction industry, and its return is a positive development for the country’s economy,” said one industry expert.
The Angolan government is also upbeat about Odebrecht’s return, with officials noting that the company’s experience and expertise will be valuable in developing the country’s mining and infrastructure sectors.
“This is an exciting development for Angola, and we welcome Odebrecht’s return. The company has a strong history in Angola and we look forward to working with them again,” said an Angolan government spokesperson.
Overall, Odebrecht’s return to Angola is a positive development for the country’s economy as it signals renewed interest from foreign investors. The company’s expertise in mining and infrastructure will be valuable in helping Angola diversify its economy and stimulate growth.