SÃO PAULO—Troubled Brazilian construction company Odebrecht SA plans to sell about 12 billion reais ($3.4 billion) in assets to help meet its debt obligations, according to the builder’s chief executive officer.

The company had a gross debt of 85 billion reais in 2014, the most recent figure available, but much of it is long-term debt and the biggest payments start only in 2025, Odebrecht CEO Newton de Souza said in an interview published Friday in the Folha de S. Paulo newspaper.

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