Four executives with one of the largest construction firms in South America, Camargo Correa, were arrested by Brazilian police Wednesday in connection with a year-long corruption probe. A total of ten employees of the firm were arrested as federal police carried out a series of raids on the company’s offices in Sao Paulo and Rio de Janiero — part of an investigation named Operation Sand Castle. Photo: C.J. Schexnayder The Campos Novos dam in southern Brazil built by Camargo Correa and completed in 2006. Investigators with Brazil’s federal prosecutor’s office specializing in financial crimes say Camargo Correa was laundering money
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.