25 November 2013
Brazil’s third-largest construction company, Camargo Correa, will consider bidding on hydro-power projects in Ghana, the Brazilian Ambassador has been reported as saying.
Ambassador Irene Vida Gala said that the Sao Paulo-based company will be the fifth construction company from Latin America to operate in Ghana.
"They are already in talks to come and establish a company and offices here. It’s preliminary talks but they will come," she told Bloomberg. "They are going very much into what they are good in: electric generation of hydroelectric power."
Camargo Correa will consider bidding on hydro-power projects in Ghana (Wikimedia Commons)
In order to meet domestic demand and halt power outages the government of Ghana plans to spend $4.5bn to double power capacity in the country, adding 2,500 megawatts of power in the next 10 years.
Brazilian companies have turned to African nations that weren’t former Portuguese colonies to capture spending on infrastructure fuelled by the discovery of oil, gas and other commodities. Firms plan to invest more than $600m in Ghana infrastructure projects, according to embassy data.
Additionally the number of Brazilian embassies in Africa has more than doubled in the past decade to strengthen political and commercial ties with the continent.
