25 June 2016

Kentz wins Mozambique deal

Harriet Russell

The company will be working in Mozambique

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.

Tags: Contract, Engineering, Mozambique

Cash Shells 2015

Published in September 2015 this annual research report provides a comprehensive overview of cash shells on the Main Market, AIM and PLUS landscape. Order your copy today

 

Superb investment toolkit for private investors

SharePad is the new web-based service from ShareScope. Easier to use and more powerful. Perfect for tablets, Macs and Windows PC. Covers ALL your investment requirements.

Growth Company Investor: free trial

Since 2008, our share tips outperformed the benchmark by 281%. Take a free trial and get access to our recommendations today. Start free trial now.

Directors' Pay on AIM 2015

The most comprehensive review of AIM directors' pay available, and this year includes a record sample of 1000+ AIM-quoted companies. The full report is available to order for £385 + VAT. Click here for more info

 

Latest small-cap and growth company news

Daily coverage of small-cap company stocks on London's junior markets AIM and PLUS, breaking news, stock research and latest share price information for investors. Full sector coverage with all the latest news on smaller listed companies, updated several times a day with financial reports, trading statements and links to further web resources.

Popular News

Latest News

Stadium hit by profit warning

Stadium Group shares have been hit by a profit warning. This is a particular blow given the company’s progress in repositioning itself into a higher quality, design-led business.

Verona raises £42m to fund drug trials 

Verona Pharma (AIM: VRP) has raised an impressive £42 million net of costs which will fund phase II trials for its RPL554 compound. This drug targets severe respiratory diseases, in particular the 65 million worldwide sufferers from COPD (chronic obstructive pulmonary disease).

Income attractions at Belvoir

It’s fair to say that buy-to-let landlords have been under George Osborne’s cosh. He’s introduced a raised stamp duty rate and withdrawn higher-rate tax relief. However, Belvoir Lettings has seen little change in the market as far as its core lettings agency business is concerned. Furthermore, the shares have responded positively to a major acquisition which makes Belvoir the largest UK lettings agent.

Wincanton keeps on trucking

Wincanton CEO Adrian Colman feels his company is now back on an even keel after a period of fire-fighting. Debt has been brought under control, the pension deficit is being addressed, and onerous leases and contracts have been dealt with. A return to the dividend list illustrates these positive changes and the fact that management can now fully focus on growing the business.

VP maintains its reputation for quality  

Plant hire company VP continues to perform well against a mixed backdrop. Management said that the core infrastructure, housing and construction markets remained generally supportive and have offset weakness in oil and gas.

Redhall on the road back to profitability 

Redhall's interim results show the turnround at this specialist engineer is on track. The growth in the order book is particularly encouraging and lends credibility to forecasts of a significant return to profitability over the next couple of years.

More News