Notification of Contract Award relating to the Expansion, Upgrading and Improvement of the Beitbridge Border
RAUBEX GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2006/023666/06)
JSE Share code: RBX
(“Raubex” or “the Company”)
NOTIFICATION OF CONTRACT AWARD RELATING TO THE EXPANSION, UPGRADING AND IMPROVEMENT OF
THE BEITBRIDGE BORDER POST MODERNISATION PROJECT IN ZIMBABWE (“THE PROJECT”)
Further to the interim results announcement released on 9 November 2020 in which the Company advised
that the upgrade of the Beitbridge border post in Zimbabwe was an exciting prospect that was progressing
towards financial close, we are pleased to confirm that Raubex has received notification from the employer,
Andalusia Investments (Private) Limited trading as Zimborders, that all conditions precedent have been met
and the Project has now reached financial close.
The Lump Sum Turnkey Engineering, Procurement and Construction Contract for the Project has been awarded
to Raubex in the amount of USD 172,2 million (excluding VAT). The respective sections of the contract have
completion periods of between 24 and 30 months.
Raubex is pleased to have secured this significant contract award and proud to be associated with the Project
which aims to expand, upgrade and improve the Beitbridge Border Post in Zimbabwe, which is a key national
project and integral to Zimbabwe’s economic and social development goals.
27 November 2020
Investec Bank Limited
Date: 27-11-2020 09:12:00
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