Wednesday, 05 December 2007 02:00

Group Five wins road tender in Hungary

Construction company Group Five announced that its infrastructure concessions business, intertoll, was part of a consortium that had been awarded the R11 billion M6 Phase 3 Motorway Project in Hungary.

Construction IndustryIntertoll held 10% of the concession company and would lead the operations and maintenance activities for the project, it said.

Revenue was expected to start flowing through to Intertoll from the beginning of next year, with full-scale operations beginning in 2010.

Intertoll’s partners on the project are Strabag of Germany, France’s Colas and John Laing Infrastructure from the UK.

The 78km dual carriageway project includes the construction and maintenance of 55 structures and four tunnels totalling more than 3km. The 30-year concession project reached financial close on November 21.

Intertoll was part of Group Five’s infrastructure concessions business and offers toll system design, procurement, implementation and operation, together with related services such as routine road maintenance.

The business has equity interests in two other service concessions in Eastern Europe and operates toll roads in SA.

“Since joining the European Union in 2004, the transit traffic through Hungary from Romania and Bulgaria has increased more than 30%.

Hungary has ambitious plans to develop its road infrastructure under an aggressive timeline, and the M6 Phase 3 is an important part of this plan,” said head of Group Five Infrastructure Concessions Eric Vemer.

Vemer said that the project reinforced and added depth to Intertoll’s position in Hungary and the group’s growing profile in eastern Europe.

The project was tendered and closed in record time, with pre-qualifications announced in May, tenders submitted in September, the preferred bidder chosen in October and financial closure last month.

Group Five last month said it had further expanded its manufacturing and construction materials portfolio by acquiring Bernoberg, a small niche manufacturer of cement extender, for R32m.

Early this year, the group said that it planned to increase its revenue from R5,8 billion to R7,3 billion by the end of the 2008 financial year next June.

 

Tuesday, 27 November 2007 02:00

Crucial to plan for post-2010

These are issues that face all host cities, but traditionally not many have been proactive enough to address them in advance

Many of South Africa’s independent airports and aerodromes remain technically non-compliant and continue to lose out on increasing opportunities presented through either tourism or large events like the upcoming 2010 FIFA World CupTM

Friday, 28 July 2006 02:00

Construction firms flock to SA expo

International companies in the construction sector have flocked to South Africa to forge business relations ahead of the 2010 Soccer World Cup

Evian, Switzerland - The first concrete results of the New Partnership for Africa's Development (Nepad) would soon be launched in the form of projects to connect electricity networks in west and north Africa, the Nepad secretariat told the Group of Eight (G8) industrialised nations at its annual summit here yesterday.

Monday, 01 July 2002 10:01

Lenders pile on the debt

Over the past two years, while returns on equities have headed south, real estate's true charms have sparkled

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