Mota-Engil shares continued to lead stock market gains early this afternoon, rising 8.82%, following the construction company’s acquisition of the submerged tunnel project in Brazil.
Around 13:30 in Lisbon, Mota-Engil shares were up 8.82% to 5.55 euros, having closed at 5.10 euros on Friday, with the PSI index maintaining its upward trend from the opening, advancing 0.56% to 7,747.53 points.
On Friday, Mota-Engil secured the concession to build and operate the submerged tunnel between the Brazilian cities of Santos and Guarujá for 30 years, the first of its kind in Brazil and the most expensive infrastructure project of President Lula da Silva’s government.
The project entails an investment of 6.8 billion Brazilian reals (1.073 billion euros) which the concessionaire will undertake in a public-private partnership with Brazil’s Ministry of Ports and Airports and the São Paulo state government.
