MURRAY & Roberts is exiting infrastructure and building markets in SA as years of stagnation take their toll. It will also dispose of its steel and engineering services group, as it focuses on global underground mining, oil and gas, and power and water.It is fairly easy to pin down the reasons for the company’s change of tack. Government spending on major infrastructure projects has been almost nonexistent since the holding of the 2010 Soccer World Cup. There has also been concern over Chinese construction companies potentially garnering billions of rands of infrastructure work in SA — the Moloto rail development corridor between Gauteng and Mpumalanga is one such project — at the expense of local firms.The decision to exit these sectors follows announcements by Murray & Roberts of its "new strategic future"."By 2020, we aim to be a leading diversified international project engineering, procurement and construction group in selected natural resources sectors and supporting infrastru...
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