RNS Number : 5882F
Kentz Corporation Ltd
15 January 2010
Kentz awarded US$69m coal mine project in Mozambique
London, 15 January 2010 - Kentz Corporation Limited (LSE: KENZ), the holding company of the Kentz Engineering and Construction Group, through its operating unit Kentz Engineers & Constructors Limitada (Mozambique), is pleased to announce it has been awarded a contract for the Moatize Coal Project in Mozambique worth approximately US$69 million.
The scope of work that Kentz will undertake includes: The structural (steel), mechanical, electrical, instrumentation and piping erection work for the coal processing plant.
The project is being developed by Vale, a global mining company headquartered in Brazil. This is Vale's first greenfield project in Africa and will be one of the largest coal mining projects anywhere in the world. Located in the Tete Province, some 1,700km north of Maputo the capital of Mozambique, the plant will ultimately have the capacity to handle 26 million metric tonnes of coal per annum.
The project also involves initiatives dedicated to investment in human capital including health education and professional training, as well as the creation of infrastructure and development of sustainable economic activity in the local community.
Dr. Hugh O'Donnell, chief executive of Kentz, said: "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."
Kentz has worked in Sub-Saharan Africa for over 30 years providing specialist engineering and construction solutions to its clients, and has in excess of 3,000 personnel in the region.
For further information please contact:
Evolution Securities Limited (Nomad and Broker)
Tel: +44 (0)20 7071 4300
Powerscourt (Financial PR advisors)
Tel: +44 (0)20 7250 1446
Kentz is a global engineering specialist solutions provider, which serves a blue chip client base primarily in the oil and gas, petrochemical and mining and metals sectors. It is listed on the AIM market of the London Stock Exchange (symbol: KENZ). In the year ending December 2008, the company generated revenues of $643.4 million and profit before tax of $40.7 million.
Kentz has over 10,000 employees in 26 countries. Its three main business lines are; specialist engineering, procurement and construction (EPC) services, construction, and technical support services. It has a proven track record of delivering mechanical, electrical, controls and instrumentation engineering, construction and management services in some of the most remote locations on earth.
Please find further information on the Kentz website www.kentz.com
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