Disgraced Odebrecht competing for major Africa contract
Disgraced Brazilian construction giant Odebrecht is competing for a major international contract as it seeks to recover from its deep involvement in the Lava Jato corruption scandal.
Odebrecht admitted in December 2016 to paying hundreds of millions of dollars in bribes to secure contracts across Latin America.
The conglomerate is in the running for a contract to build a hydroelectric dam in Tanzania that could bring in US$3bn to Odebrecht's coffers, Brazilian business daily Valor reported.
A major project with an installed capacity of 2,100MW, Odebrecht Engenharia e Construção (OEC) is leading a consortium which is bidding for the contract, Valor reported OEC engineering director Carlos Hermanny as saying.
The report did not name the other firms in the consortium.
BRAZIL CONTRACT
While awaiting news from Tanzania, OEC celebrated this week the signing of a first major contract in a public tender in Brazil since Lava Jato greatly tarnished its reputation.
The 579mn-real (US$174mn) contract with state-owned company Furnas, a subsidiary of Eletrobras, will expand the capacity of Rio de Janeiro's Santa Cruz thermoelectric plant.
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News in: Infrastructure (Brazil)
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