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RAUBEX GROUP LIMITED - Notification of Contract Award for the Upgrading of the Mpika-Nabwalya-Mfuwe Road in Zambia

Release Date: 23/06/2014 14:15
Code(s): RBX     PDF:  
Wrap Text
Notification of Contract Award for the Upgrading of the Mpika-Nabwalya-Mfuwe Road in Zambia

RAUBEX GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2006/023666/06)
JSE Share code: RBX
ISIN: ZAE000093183
(“Raubex” or the “Group”)


NOTIFICATION OF CONTRACT AWARD FOR THE UPGRADING OF THE MPIKA-NABWALYA-
MFUWE ROAD (RD49) IN ZAMBIA

Shareholders are referred to the Group’s annual results announcement published on 12 May
2014 and which indicated the pending award of the Zambia Link 8000 contract for the
upgrading of approximately 117 km of the Mpika-Nabwalya-Mfuwe road (RD49) in the north
eastern Muchinga Province of Zambia.

Raubex is pleased to announce that the contract has been formally awarded and signed by
the Zambian Road Development Agency for an amount of ZMW 540 million. Mobilisation will
commence in July 2014 and the contract has a completion period of 30 months.

This contract follows the awarding of the ZMW 265 million contract for the upgrading of
approximately 94 km of the Safwa to Chinsali road earlier this year. Site establishment for
this contract, which is also in the Muchinga Province of Zambia, is in progress and the
contract has a completion period of 24 months.

Commenting on the Zambian contracts, Rudolf Fourie, Raubex CEO, said: “W e are pleased
to have secured these tw o contracts w hich are in line w ith our plan to grow the
Group’s international order book as w e see out the highly com petitive conditions
in the South African m arket.

“W e have a lot of experience in the African road construction m arket and these
Zam bian contracts w ill support the perform ance of the Raubex Construction
division over the nex t couple of years, as w e continue to position the Group as a
m ajor player in geographies m eeting our investm ent criteria.”

Johannesburg
23 June 2014

Sponsor
Investec Bank Limited

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