Commercial Terms Agreed with Danakali Limited
This announcement contains inside information
RA INTERNATIONAL GROUP PLC
("RA International" or the "Company")
Commercial Terms Agreed with Danakali Limited
RA International Group PLC (AIM: RAI), a specialist provider of complex and integrated remote site services to Humanitarian, Governmental and Commercial organisations globally, is pleased to announce it has successfully concluded contract discussions with Danakali Limited (LSE: DNK, ASX: DNK) for the construction of camp accommodation for 1200 personnel, administration and service facilities as well as the provision of integrated facilities management services in support of the Colluli Mining Share Company ("CMSC") development in Eritrea, East Africa.
The key commercial terms will be released when all approvals have been obtained, which include the CMSC board and related government departments in Eritrea.
The construction works are to be phased, with the first of three phases commencing imminently upon receiving the necessary approvals and subsequent phases commencing as CMSC funding is available. Construction activities are anticipated to be completed within a year with the operating contract commencing immediately post-construction.
Soraya Narfeldt, CEO of RA International, commented: " Since our appointment as preferred contractor was confirmed last year, we have continued to work closely with Danakali and its partners as they have developed their plans and we look forward to commencing our work with them on this globally significant project.
The updated scope of work and terms of the contract concluded underscores a cooperative and relationship driven approach. We continue to be very encouraged by our business development activity and look forward to building on our recent momentum."
Enquiries:
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RA International Group PLC Soraya Narfeldt, Chief Executive Officer Lars Narfeldt, Chief Operating Officer Andrew Bolter, Chief Financial Officer
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Via Bamburgh Capital |
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Canaccord Genuity Limited (Nominated Adviser and Broker) Bobbie Hilliam Alex Aylen
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+44 (0)207 523 8000 |
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Bamburgh Capital Limited (Financial PR & Investor Relations) Murdo Montgomery
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+44 (0)191 249 7442 investors@raints.com |
About RA International
RA International is a leading provider of services to remote locations in Africa and the Middle East. The Company offers its services through three channels: construction, integrated facilities management and supply chain, and services three main client groups: humanitarian and aid agencies, governments and commercial customers, predominantly in the oil and gas and mining sectors. It has a strong customer base, largely comprising UN agencies, western governments and global corporations.
The Company provides comprehensive, flexible, mission critical support to its clients enabling them to focus on the delivery of their respective businesses and services. Focusing on integrity and values alongside making on-going investment in its people, locations and operations has over time created a reliable and trusted brand within its sector.
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