Mota-Engil Eyes African Growth as Infrastructure Projects Surge

Mota-Engil SGPS SA has identified Africa as its primary growth avenue, driven by substantial infrastructure projects in energy-producing nations. The Portuguese construction company anticipates a significant boost from TotalEnergies SE’s ambitious $20 billion liquefied natural gas (LNG) project in Mozambique, which is expected to resume operations by the end of this year. Chief Executive Officer Carlos Mota Santos expressed optimism about the company’s future in the region, emphasizing a strong focus on Nigeria, Angola, and Mozambique.

In a recent update, Mota-Engil reported that its order book reached a record €14.7 billion (approximately $17 billion) in the first half of the year, with Africa contributing over one-third of this backlog. Santos stated that the order book is projected to increase to between €15 billion and €16 billion by the end of 2023. Notable projects in Africa include a $1.8 billion railway line in Nigeria, the Lobito corridor rail project in Angola, and marine facilities for TotalEnergies in Mozambique.

Santos highlighted that the restart of the LNG plant in Mozambique would pave the way for an array of future projects for Mota-Engil in the country. While specific details remain forthcoming, negotiations are currently underway with TotalEnergies regarding updates to projects that were halted four years ago due to regional instability caused by rebel attacks. “We are renegotiating with Total an update of the prices because they are outdated, and we need compensation for the stoppage,” Santos mentioned. “We’re already in the final phase.”

In addition to its African endeavors, Mota-Engil expects to see a resurgence of projects in Portugal, including new tenders to construct a high-speed railway, following a recent snap election. The company’s shares have surged by 70% in 2025, marking the largest increase among the 15 companies listed on Lisbon’s benchmark PSI index. This rise has occurred despite some hedge funds betting against the stock.

Santos, whose family founded the company in 1946, asserted that Mota-Engil’s shares hold significant untapped value. He underscored the company’s commitment to reducing debt and enhancing profitability, stating, “That’s what we have to deliver to our shareholders and stakeholders to prove that the company is worth more.”