3. - Zagope

123In Algeria, where Zagope operates since 2006,there has been a slowdown in the release ofnew contracts as well as delays in the entryinto force of newly awarded contracts, dueto the combination of internal factors and ofthe impact of the international crisis over theAlgerian economy. 2010 followed the sametrend as 2009, with no relevant new projects forpublic works released. In this scenario, Zagopeconcentrated its activities in the execution ofongoing works, namely the construction of astretch of the Algiers Subway; the TransrhumelBridge, in Constantine; gas pipelines in the westof the country; the Fishing and Leisure Port inJijel; and a sanitary landfill site to serve the cityof Algiers.The year of 2011 brings expectations of newpublic tenders, particularly starting in thesecond semester, with reflexes on the turnoverestimated for the company in 2012.Cameroon is going through an importantpolitical and economic moment. The new politiccycle has contributed to the beginning of manyworks, as is the case with the 85km road ofNgaoundéré-Mbéré,in the north of the country,a project that counts with Zagope’s expertise.In Spain, Zagope worked simultaneously inthree projects: the Novelle and Fonte Quentetunnels, both part of the High Speed Line –Platform for the North-Northwest High SpeedCorridor – Vigo-Pontevedra Axis; and thefinal stages of execution of the Burata Tunnel(Tunnel and Emergency Gallery), part of thePlatform for the North-Northwest High SpeedCorridor – Ourense-Santiago Axis, Ourense-Amoeiro segment. All projects were part of theexpansion of the High Speed Railway line in theAutonomous Community of Galiza.In Equatorial Guinea, Zagope has reinforced itsposition and widened its scope of activity in sucha scale as to be currently considered a referenceamong other companies, particularly in the publicconstruction sector. In 2010 the company startedthe Mongomeyen Urban Project as well as theMongomeyen-Nsok Nsomo – Ebebeyin Highway,with 63km of extension; and also concluded theworks at the Mongomeyen International Airport.ZAGOPE – Construções e Engenharia, S.A. | Annual Report 2010