May 7, 2018 / 8:41 PM / 10 months ago

Odebrecht construction unit aims for $3.6 bln in new contracts

SAO PAULO, May 7 (Reuters) - The construction unit of Brazilian conglomerate Odebrecht SA is trying to win $3.6 billion in new contracts, a senior executive of the corruption-ensnared group said.

Last week, Odebrecht Engenharia e Construção (OEC) announced two new contracts totaling $704 million to build a private port in the southeastern state of Espirito Santo and public transportation systems in the northern state of Pará.

Odebrecht’s director for infrastructure, José Quintella, said the company will try to win contracts around $3.6 billion, including one to build a hydroelectric dam in Tanzania.

OEC failed to pay $144 million in bonds due last month. Its parent is still in talks with banks to obtain new funds and repay the bond within the 30-day grace period. (Reporting by Aluisio Alves; Writing by Tatiana Bautzer Editing by Marguerita Choy)

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