Odebrecht wants to close 2021 with 1,1 billion dollars in the account! Construtora has 26 contracts in Brazil and 11 in countries such as Panama, Peru, Argentina, Guyana, Angola, Ghana and the United States.

Odebrecht plans to turn around and close the year 2021 with 1,1 billion dollars in the account! Almost six years after the arrest of Marcelo Odebrecht, who ruined the construction company, the group is trying to rebuild the company, with new works and a possible partner to help finance the recovery, as announced by us at Click Petróleo e Gás

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Odebrecht Engenharia e Construção (OEC) saw its revenues and work backlog rapidly dwindle while a series of financial problems arose, such as the payment of debts after corruption schemes involving the company came to light.

Far from the “cow days” when the company had contracts with infrastructure mega-projects that made the company one of the world's giants in the sector, Odebrecht is undergoing a financial restructuring and aims to win new construction contracts.

Odebrecht reached a turnover of BRL 32,4 billion in 2014, driven by the works for the World Cup and the Olympics, which represents a completely opposite scenario faced by the company in 2020, where revenues represented only 10% of that amount, that is, the company earned USD 600 million, approximately BRL 3,3 billion.

Odebrecht has 26 active contracts in Brazil and abroad and intends to end 2021 with US$1,1 billion in its account

Construtira Odebrecht currently has 26 active contracts, of which 15 are in Brazil and 11 abroad in countries such as Panama, Peru, Argentina, Guyana, Angola, Ghana and the United States.

In addition, the company earned six works in the last 12 months. The contractor's president, Marco Siqueira, is optimistic and expects to double revenues this year, to US$ 1,1 billion, around R$ 6 billion.

The construction company has 131 projects totaling R$ 17 billion, in prospect to be explored, but with low financial power, Odebrecht faces difficulties in obtaining guarantees and participating in all market disputes.

“The name of the game now is winning new contracts.” The executive recognizes, however, that conditions will be different. In addition to the size of the construction company, there is a new reality of works in the country: the mega-projects have given way to smaller and more scattered projects.

United States Department of Justice (DoJ) and Federal Public Prosecutor's Office ended monitoring

Differently from the past, when OEC only disputed large bids, today the objective is to increase the portfolio of works. “But we should focus on contracts above R$ 150 million”, says Siqueira. At the end of last year, the United States Department of Justice (DoJ) and the Federal Public Ministry ended the external monitoring carried out in the group for four years.

The inspection work was part of the leniency agreement, signed in 2016 with the DoJ and Brazilian and Swiss authorities. Lawyer Otavio Yazbek, who was the Brazilian monitor at the company, believes that whoever hires Odebrecht requires some type of additional security. “But I understand that the company is able to show the advances and what is in effect, and that is the most important thing to face the risks and challenges of new lines of business.” The information is from the newspaper O Estado de S. Paulo.

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