Major contract in Africa for MT Højgaard subsidiary

11. December 2013

The Portuguese contracting company Seth S.A., which is partially owned by MT Højgaard, is going to expand Mozambique’s electricity supply in a joint venture with Per Aasleff A/S.

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The project involves the construction of 240 kilometres of high-tension transmission lines as well as four new transformer stations north and northeast of Mozambique’s capital Maputo. The purpose is to ensure a stable supply of electricity for the population and businesses, which is essential for growth in the country.

Seth A.S. will be the partner of Per Aarsleff A/S, who is the turnkey contractor. Danida Business Finance is financing the project, which has a value of approximately DKK 520 million, on behalf of Mozambique’s state-owned electricity supply company Electricidade de Mozambique. The project is expected to take 30 months.

MT Højgaard Group owns 60 percent of Seth A.S. and the Group’s expected revenue from the project is approximately DKK 160 million.

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