Mota-Engil announced this Monday the increase by 427 million dollars, the amount of the mining contract in Mozambique, bringing the total to 871 million dollars.

"Mota-Engil S.G.P.S., S.A. (Mota-Engil) informs that its subsidiary for the African region has signed an addendum to a mining contract currently underway in Moatize - Mozambique, whose customer is the multinational group Vale, S.A., whose total value now amounts to 871 million US dollars," the statement sent on Monday to the Securities Market Commission (CMVM) reads.

According to the Portuguese construction group, the contract addendum represents "an increase of 427 million US dollars over the initial contract value - 444 million US dollars.

"The above mentioned addendum contemplates the extension of the current mining contract for an additional period of two years, and the end of that is now set for December 31, 2024," the company further states.

The contract had initially been established in 2017 and, according to the company, the addendum "strengthens its order book in the Africa region with a medium to long-term contract generating recurring 'cash-flows' [cash flows]."

Lusa Agency