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Engineering & Construction
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Odebrecht S.A.
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Annual Meeting 2003
Annual Report 2002

   Engineering & Construction
Leading Company Construtora Norberto Odebrecht S.A.

Construtora Norberto Odebrecht
is Latin America’s largest contractor.


This company concentrates on providing integrated engineering, procurement, construction, industrial installation and management services for civil and industrial construction and specialized-technology projects. It also develops real-estate ventures and participates in special projects in the energy, mining and infrastructure sectors and public services concessions.

Since its inception in 1945, the contractor has taken part in a varied range of construction projects: buildings, thermal and hydroelectric power plants, nuclear plants, steel mills, refineries, naphtha crackers, tourist and real-estate complexes, urban mass transportation systems, roads, railroads, seaports and airports, facilities for the oil and gas industry and mining, basic sanitation and irrigation projects.

Present in South, Central and North America, Africa, Europe and the Middle East, Construtora Norberto Odebrecht is Brazil’s largest service exporter.

Highlights
Although the economic situation in 2003 was challenging in some countries where Construtora Norberto Odebrecht operates, by the year’s end the contracting company had garnered excellent results.

The highlights included a substantial growth of business worldwide, particularly in South and Central America. CNO also established a presence in the Middle East by beginning operations in the United Arab Emirates.

In Europe, CNO’s Portuguese subsidiary, Bento Pedroso Construções (BPC), celebrated its 50th anniversary. That date also marked the 15th anniversary of Odebrecht’s presence in Portugal, where the Group began operations in 1988.

Indicators

Job positions

Construtora Norberto Odebrecht had 20,608 people directly employed in 2003:

14,358 in Brazil
6,250 in other countries

Gross revenue in 2003

BRL 4.55 billion

Backlog worldwide

USD 2.19 billion

Contracts awarded worldwide in 2003
USD 906 million

Backlog in Brazil

BRL 2.97 billion

Contracts awarded in Brazil in 2003

BRL 1.31 billion


Building Client Loyalty One of Construtora Norberto Odebrecht’s outstanding qualities is establishing long-term relationships with its clients.

Petrobras: 50 years
Coelba/Iberdrola: 34 years
Infraero: 31 years
Furnas: 31 years
Eletronorte: 21 years
Gamek (Angola): 21 years
Metrô de São Paulo: 20 years
Cedegé (Ecuador): 16 years
Metropolitano de Lisboa (Portugal): 11 years
Miami International Airport (USA): 11 years

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