Kentz wins Mozambique deal
The company will be working in Mozambique
Engineering and construction outfit Kentz Corporation (LON:KENZ) has won a contract worth $38 million in Mozambique.
The contract is for the Nacala Corridor Project which is intended to provide the transportation of coal mined at Moatize, in Tete province to the portl located in Nacala on the coast of the Indian Ocean, via a new 912 kilometre long railway corridor.
Kentz has been contracted to undertake the structural, mechanical and electrical erection required to construct the main stock yard equipment. Kentz will build 13 kilometres of interconnecting belt conveyors as well as assemble and install approximately 14,000 tonnes of equipment.
The contract will be executed by the construction business unit of the company which will mobilise a workforce of 700 staff and field personnel. This workforce will be primarily made up of workers local to Mozambique, the group has claimed.
The contract was awarded to Kentz by Corredor Logistico Integrado de Nacala, a joint venture company between Vale Moçambique Limitada and CFM, the Mozambique Port and Railways Authority.
The work is expected to complete in November 2014.
Shares in Kentz were trading at 400.8p this morning, valuing the company at £473 million.