Proactive Investors - Run By Investors For Investors

Kentz wins US$69 million contract for Vale’s Moatize coal project in Mozambique

Kentz wins US$69 million contract for Vale’s Moatize coal project in Mozambique

Kentz Corporation Limited (AIM: KENZ) has won a US$69 million contract for structural, mechanical, electrical, instrumentation and piping work for the coal processing plant at the Moatize coal project in Mozambique.

The project is being developed by Brazil headquartered miner Vale (NYSE: VALE), being its first greenfield project in Africa and one of the largest coal mining projects in the world. The plant, which is located in the Tete province of Mozambique, will ultimately have the capacity to handle 26 million metric tonnes of coal per annum.

The company has been providing specialist engineering and construction solutions to its clients in Sub-Saharan Africa for over 30 years, having about 3,000 personnel in the region.

“This is a fantastic award for Kentz and reaffirms our dominant position in the mining sector in sub-Saharan Africa. This is the first of many coal projects that are planned for development in the region, which has the largest carboniferous reserves in the world. Kentz is ideally positioned to secure ongoing work over the coming years,” said chief executive Hugh O’Donnell.

Shares in the company rose more than 4% on the news.

View full KENZ profile View Profile

KENTZ Timeline

Related Articles

SigmaRoc quarry
April 18 2019
Founded in 2016, the firm looks to create value by purchasing assets in the fragmented construction materials market and forming them into larger groups to create efficiencies
Social care
February 01 2019
In the first half of the current year, the company said its health and housing pipeline had grown to 26 schemes with £222.5mln of gross development value
Copyright © Proactiveinvestors.com, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use