Brazil’s Construction Industry Bounces Back

As a growing regional power, Brazil’s real estate and housing development has been a key component of the national economy for decades. In fact, the building industry accounts for a staggering 5% of the country’s GDP. Although there has been a slow down due to the recession, the industry is expected to rebound as economic conditions improve.

One of the leaders in the industry is Rio-based Oderbrecht, which has grown into a global engineering and building conglomerate and also possesses a major oil and gas division. Oderbrecht Oil and Gas is second in size and revenue only to Petrobras, the Brazilian national oil company, among domestic oil producers. Founded in the Brazilian state of Bahia in 1945, Oderbrecht was the first Brazilian company to win a contract with the US federal government.

Another major player Camargo CorrĂȘa. Headquartered in Sao Paulo, Camargo CorrĂȘa is a billion-dollar construction and energy company, which built and currently operates the second-largest hydroelectric power plant in the world. Known as Itaipu, the plant is located near the border with Paraguay and has produced more than 2.3 megawatt-hours of electricity since being built.

Sao-Paulo based Construcap is a growing firm which has recently entered into a joint venture with Dallas-based Fluor Corporation. Construcap, which posted record profits recently, has teamed up with Fluor to offer a wider range of services, such as engineering and industrial consulting. The company was founded in 1944, but has experienced enormous growth in the last 10 years by specializing in serving industrial clients.