Mota-Engil signs contract in Nigeria for about 840 ME

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Mota-Engil announced yesterday that it has signed a contract in Nigeria for about 840 million euros to supply railway rolling stock, it said in a statement to the Securities Market Commission (CMVM).

Thus, the construction company indicated that its subsidiary for the Africa region, Mota-Engil Nigeria, “signed a contract for the supply and financing of railway rolling stock in Nigeria worth about 916 million US dollars [close to 840 million euros] with the Federal Ministry of Transportation.”

According to the company, the contract “is associated with the Kano – Maradi – Dutse railway construction project, which is currently being executed in the north of the country and which was signed after a lengthy validation and ‘due diligence’ process by local regulatory authorities.”

Mota-Engil also pointed out that the “delivery and commissioning of the material to be supplied will occur over the next 48 months”, highlighting that it consolidates “in this way the bet that the Nigerian government intends to improve regional connectivity and the economic development of the north of the country”.

With this award, the construction company “continues to strengthen its order portfolio on the African continent, keeping its total at peak values, boosting the strong and sustained growth of its business volume,” he said.

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