The company will be held 51% by Mota-Engil Africa and 49% by Shoreline
Mota-Engil Africa and Shoreline entered into joint-venture agreement for the Nigerian market. The agreement was signed by Manuel Mota, CEO of Mota-Engil Africa and Kola Karim, founder and CEO of Shoreline Group.
The joint-venture vehicle, through which the Mota-Engil group will enter this market will be called Mota-Engil Nigeria Limited and will be held 51% by Mota-Engil Africa and 49% by Shoreline, a group with significant presence in the Nigerian market. HRH, the Emir of Kano will be the President of the Company.
Mota-Engil Nigeria
Mota-Engil Nigeria will focus on construction contracts, aiming to achieve a leading position in the sector, focussing on the main tenders for construction and infrastructure coming to market in the coming years.
The shareholders of Mota-Engil Nigeria also see opportunity for diversification of investments and a strengthening and development of existing relations with key partners and clients, looking to fully exploit their respective strengths in this and other business sectors such as waste treatment and management, leveraging their combined knowledge and experience to maximise the potential of the company.
The agreement was entered into during the EurAfrican conference, which took place in the Estoril Congress Centre, hosted by the Presidency of the Portuguese Republic before distinguished guests which included business and political leaders from the European and African continents. The former president of the European Commission, José Manuel Durão Barroso, chaired the conference.
For Manuel Mota, “entering into this joint venture agreement is the culmination of several months of discussion between the companies and the beginning of what promises to be a fruitful relationship in a market which is key to the development of the African continent, such is the importance of the Nigerian economy, one of the countries with the greatest potential for growth in a market with around 190 million inhabitants and one of the most youthful populations in the world.”
For Kola Karim, “we are delighted to partner with Mota-Engil and to begin work on opportunities within Nigeria. Mota-Engil is a world class contractor and operator in the infrastructure, construction and allied industries. We are excited to bring this capacity into the Nigerian market. Our ambition is to deliver world class projects in construction and civil engineering across the nation. Additionally we will look to identify and participate in turnkey concession opportunities in support of various public private initiatives.”
Mota-Engil and Shoreline
Mota-Engil is a multinational with a history dating back more than 70 years and a presence in 28 countries. With a leading market position in Portugal and one of the 30 largest European Engineering and Construction companies, Mota-Engil has a vast curriculum in civil construction sector, the management of waste as well as transport and energy concessions. In Africa the group is active in 14 countries with a backlog of around €2.5B Euro, having achieved a turnover in 2017 of €860M.
Shoreline Group is an African conglomerate based in Nigeria, with diversified and significant investments in the oil & gas, energy, engineering and construction, telecommunications and trading sectors, taking its position as one of the leading economic groups in Nigeria and with investments in other African countries such as Angola, Uganda, Kenya, Ghana and Liberia, as well as in Europe (France, Germany and the UK) and in Asia. Its founder and CEO, Kola Karim, appeared in Forbes magazine in 2014 as one of the 10 most influential people in Africa.
Pedro Arrais
Institutional Relations and Corporate Communication
