A N N U A L R E P O R T A N D A C C O U N T S - CMVM

Management Report of the Board of Directors - Financial Year 2008
Catenary erection works:
- Fusion des Postes de la zone élargie d`Aulnoye;
- GOP V2 2008 and Création ITCS Hazebrouk/Dunquerke;
- Construction of a new railway track projected between
Taourirt and Nador, including the project and installation of the
layout on a concreted railway track at Beni Ansar Harbour
(130Km);
- LGV RHIN RHONE – Remaniement Préparatif au
Raccordement de Petit Croix;
- Création du raccordement de Blangy : Ligne de Paris – Lille.
- LIBYA
Following the work that “Teixeira Duarte – Engenharia e
Construções, S.A.” and other companies comprised in its
economic group have been carrying out in North Africa with
greater dimension and regularity, it was deduced that the
Libyan market appears to have great capacity and growth
potential, so Company decided to start operating in that
Country, mainly including the incorporation of a local
connection office, for the purpose of allowing it to perform its
activity under the legally admitted terms and requirements
and in a nimble, organised manner, suited to the local
conditions.
In 2008, the Company continued to approach local agents
with the signing of several joint performance protocols, which
makes it possible to envisage 2009 as the year of its
production start-up in that Country.
- MOROCCO
This market has been gaining increasing importance in the
operation of the investee company SOMAFEL, S.A., which
developed the logistics and industrial production in three
large construction yards.
During 2008, the following works for “ONCF – Office National
de Chemins de Fer” deserve highlighting:
- Full renewal of the railway track between Tangiers and
Mechraa Bel Ksiri (70 Km);
74 ONCF / New Railway Track in the Link Projected between Taourirt and Nador
- Project and installation of a concreted railway track at
Tangiers-Mediterranée Harbour.
SOMAFEL, S.A. continues with expectations of reinforcing its
activity in this Country, through catenary works and with
preservation and maintenance contracts.
- MOZAMBIQUE
The construction market revealed an unusual higher activity,
both at tender level, and in the awarding of Works, especially
during the second semester of 2008, which provided a much
larger works portfolio and with high expectations for 2009.
During the year under review, the completion of the following
contract jobs deserves highlighting:
- Construction of the reinforced concrete structure for a trade
and services building, in Maputo, for “MMD – Construções,
Limitada”;
- Mitigation of erosion at Tofo beach, in the Province of
Inhambane, for “Telecomunicações de Moçambique
S.A.R.L.”.
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