After operating for 35 years in the Engineering and Construction segment, Odebrecht began to diversify its activities. The acquisition of interest in Companhia Petroquímica de Camaçari (CPC) in 1979 was the first step in this process that would intensify during the 1980s.

Still in 1979, the company founded Odebrecht Perfurações Ltda. (OPL), focused on oil well drilling. The Organization grew with the acquisition of companies such as CMW Equipamentos Ltda. and STL Sistema de Transportes Ltda. It also invested in eucalyptus cultivations in Bahia for paper and pulp production.

The Brazilian Privatization Program of the 1980s favored the transformation that Odebrecht underwent at the turn of the century. At that time, Odebrecht had merged with chemical and petrochemical companies such as Salgema, Poliolefinas S.A., PPH and Unipar. The operations hinted at a future marked by investments in the sector. 

One decisive move was the acquisition of interest in Copene, the raw material center of the Camaçari Pole in Bahia. The business transaction conducted in consortium with the Mariani Group in 2001 led to the creation of Braskem the following year. The company would become leader in the South American petrochemical sector over that decade.

Considering the potential growth of the Ethanol and Sugar market in Brazil and the rest of the world, the Organization also began to invest in this area. In 2007, it founded ETH Bioenergia, focused on everything from sugarcane production and milling to the sale of the final products. The company aims to be one of the segment leaders over the next 10 years.

The Engineering and Construction business, Odebrecht’s origin, also grew and diversified its operations. During the decade of 2000, some of the construction company's areas of operation became independent. This consolidated Odebrecht’s qualified presence in the areas of Energy, Industrial Engineering, Infrastructure, Oil and Gas, Real Estate Developments, Environmental Engineering and Investments and Holdings and in the Latin American, Africa, Arab Emirates, Portugal and Venezuelan markets.