The Angolan subsidiary of Portuguese construction group Mota-Engil has been awarded a project worth 178 million euros to repair one of the main roads in Luanda province, according to a presidential order.

The work awarded to Mota-Engil Engenharia e Construção África to repair the Via Expressa/Camama/Avenida Pedro de Castro Van-Dunem Loy road includes micro and macro-drainage works, as well as building a roundabout.

With three lanes in each direction, the Via Expressa (Expressway) is one of the main roads in Luanda, a city with almost 7 million inhabitants, according to Portuguese news agency Lusa.

The document signed by the President also states that the execution of this work, included in the Public Investment Programme, will be carried out under Portugal’s credit line guaranteed by the Export Credit Insurance Company (COSEC).

The governments of Angola and Portugal intend to accelerate the inclusion in the COSEC export insurance and credit line projects to be carried out by Portuguese companies in Angola, with priority given to infrastructure and defence.

This intention was announced in October, in Luanda, at the end of a meeting between the Angolan Finance minister, Archer Mangueira, and the Secretary of State for Foreign Affairs and Cooperation of Portugal, Teresa Ribeiro, during an official visit to Angola.

This credit line was created by the Portuguese government in December 2008, as part of measures to minimise the effects of the economic and financial crisis and to support internationalisation, with a state guarantee and exclusive management by COSEC.

Source: Macauhub