Raubex: Zambia road revamp contract clinched

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Raubex had been awarded a 540 million Zambian kwacha (R946m) contract to upgrade roads in Zambia, the construction company said yesterday. The contract was for the revamping of 117km of the Mpika-Nabwalya-Mfuwe road (RD49) in the north-eastern Muchinga province. The 30-month contract would kick in next month. It followed the award to Raubex earlier this year of a 265 million kwacha deal to upgrade 94km of the Safwa to Chinsali road, also in Muchinga. Site establishment for this contract, which had a 24-month completion period, was in progress. Rudolf Fourie, the chief executive of Raubex, said the group was pleased to have secured these two contracts, which were in line with the plan to grow the group’s international order book “as we see out the highly competitive conditions in the South African market”. Fourie added: “We have a lot of experience in [African road construction] and these Zambian contracts will support the performance of the Raubex construction division over the next couple of years as we… position the group as a major player.” Shares in Raubex rose 2.45 percent to close at R20.90 on the JSE yesterday. The group is valued at R3.9 billion. – Roy Cokayne

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