Grupo Soares da Costa plans to invest in infrastructure in Brazil
Valor Econômico 09/16/10
Soares da Costa, one of the leading conglomerates in the area of infrastructure in Portugal, plans to enter the Brazilian market. The information is found in the planning of the company until 2014, released yesterday to the market. The company cited the growth potential of the Brazilian construction market, with emphasis on public works projects for the 2014 World Cup and the Olympics in 2016, besides Petrobras projects.Soares da Costa also noted that the fragmented nature of the Brazilian construction market offers good opportunities. For that reason, it plans to enter the country through of medium-sized acquisition (between € 150 million and € 300 million) or partnership with local company. In a second moment, it intends to expand its operations in Brazil, also entering in the segments of waste treatment and transport concessions. Thus, Soares da Costa expects to reduce its current dependence of Portuguese and Angolan markets. The company's goal is to increase the volume of overseas business from the current 53% to 70% of total earnings until 2014.