Israel's Tahal Wins $370M Project in Angola
Designer's largest win is part of new market-growth strategy
Israeli engineering firm Tahal Group has won its largest-ever infrastructure project—a $370-million, seven-year contract with an Angolan government-owned company to design, build, manage and operate an agricultural development project in the country’s Kiminha region.
“This is the biggest project in Tahal’s history and an important one for the company’s future development,” Tahal President and CEO Saar Bracha said in a statement. Tahal has been focusing in recent years on agricultural infrastructure projects in Angola and China.
The agreement, a follow-on to previous work in the African nation since 2012, is based on the concept of the Israeli "moshav," a cooperative farming community. It involves construction of 300 homes and numerous agricultural development structures and related infrastructure. Under the latest agreement, Tahal and its local partner, ZRB Consulting and Development, will supply equipment for the project, as well as the management and professional team.
According to a report in Globes, an Israeli business publication, Tahal has undergone "a strategic and structural change in recent years," operating now in four core sectors: water and sewage, agricultural development, natural gas, and the environment. The firm reported that profit in the first half of 2016 totaled less than €2 million, compared with €19 million in the first half of 2015 from the sale of most of its holdings in KWIG, a water-purification company working in China.
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