Annual Report 2010 - CMVM

Management Report of the Board of Directors 2010Somafel - Maintenance ofthe Western railway lineOFM - Jardim do Tabaco Cruiser Pierin Lisbon PortFor the Railway Works, the 60% owned subsidiary SOMAFEL - Engenharia e Obras Ferroviárias, S.A. recorded strong growth in two of themain markets in which it operates, the Portuguese and Algerian, continued the works in Morocco and, through a subsidiary in Brazil, beganits commercial operation in this growing market.In Portugal, note should be made of its participation in the execution of the railway link to Aveiro Port and the railway bridge over theRiver Sado in Alcácer do Sal, as well as the execution of the renewal of the track on the Northern Line and maintenance of the railwaytrack on the Beira Alta, Western and Northern lines.In Algeria, work was pursued in the renewal and modernisation of the Biskra/Tougourt and Thenia/Tizi Ouzou lines, while in Morocco theexecution of the works continued for the renewal and improvement of the line serving the cities of Rabat and Casablanca.Regarding maritime works, OFM - Obras Públicas, Ferroviárias e Marítimas, S.A., 60% owned indirectly by the Teixeira Duarte Grouprecorded a strong reduction in the activity levels of its markets of operation, the Portuguese and Algerian, but began its operation in Cape Verdewith the expansion work of the New Port in the Island of Santo Antão.In Portugal, this year, note should be made of the works carried out in the breakwater pier of Ericeira Port and in Jardim do Tabaco cruiserpier in Lisbon Port and, in Algeria, the execution of various public and private works, namely those carried out in Bejaia Commercial Port andMers-el-kibir Naval Base.30