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Listed infrastructure development group Raubex is hanging its hopes for the recovery of its struggling roads construction business on imminent “large” contracts from the SA National Roads Agency Limited (Sanral).
The expected work from the national roads agency is a glimmer of hope for Raubex whose order book has taken strain from the sharp fall in road construction work.
Sanral’s contribution to the firm’s total order book has fallen from just more than R2bn in the 2016 financial year to R207.6m in the year to February .
Raubex CEO Rudolf Fourie said Sanral was expected to bring to the market “some large” capital projects facilitated through the government stimulus package.
The roads agency had indicated that it intended to bring six to seven projects to the market in the next three months, he said. “We hope that that will relieve some pressure (on Raubex).”
The roads and earthworks division suffered from the dearth of roads tenders in SA. “Roads spending is almost nothing...
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