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Mota-Engil, a Portuguese company, wins construction contracts worth $1.16 billion in Mexico

Mota-Engil is Portugal's biggest construction company. It has announced that it has won rail construction contracts worth over 1 billion euros (1.16 million dollars) in Mexico, increasing its order books in the country to more than 3.7 billion euro.

In a press release, Mota-Engil said that with these contracts it would resume growth in its backlog of work in Mexico, "strengthening its position as the largest European rail infrastructure constructor in the country".

Mota-Engil's shares rose 2.3% on Monday morning after the announcement.

The contract with the Mexican government, worth 820 millions euros, involves the design and building of the second section of the railway line between Apaseo El Grande and Irapuato. This stretch is 70.7 km long.

The first 30 km of this stretch was already awarded in August, under the National Railway Plan.

In June, the company had an order backlog totaling EUR14,7 billion. It operates in over 20 countries across Africa, Europe and Latin America.

(source: Reuters)