JSE-listed construction group Raubex is disappointed that it lost the tender award for the R1.8 billion upgrade to the Ashburton interchange in KwaZulu-Natal to a Chinese joint venture company. Moneyweb Tender
JSE-listed construction group Raubex is disappointed it lost the tender award for the R1.8 billion upgrade to the Ashburton interchange in KwaZulu-Natal to a Chinese joint venture company. However, Raubex CEO Felicia Msiza said on Monday she doubts the activity of Chinese companies in the local market will negatively impact Raubex’s order book and financial performance in the future.
Raubex appoints Felicia Msiza as its new CEO Msiza said on Monday that Sanral accounted for 32% or R5.29 billion of Raubex’s total R16.4 billion order book at end-August compared with 39% or R6.68 billion at end-December 2021. She said a number of project awards are still expected from Sanral. Chinese companies were last week awarded the bulk of the Sanral tenders for four significant projects.
New Mtentu Bridge contract under adjudication by Sanral “There have been high levels of tender activity, which have continued during the year to date. There are a number of projects that are still pending adjudication, which can increase the order book substantially if awarded [to Raubex].” Raubex’s international division increased its portion of the group’s total order book to 34% at end-August, from 24% at end-December.
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