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20 Aug 2020 08:01
This announcement contains inside information
RA INTERNATIONAL GROUP PLC
("RA International" or the "Company")
Appointment as Preferred Contractor to Danakali
RA International Group PLC (AIM: RAI), a leading provider of services to remote locations in Africa and the Middle East, is pleased to announce it has been appointed as the preferred contractor to Colluli Mining Share Company, a joint venture company owned 50% by Eritrean National Mining Company and 50% Danakali Limited for the construction of camp accommodation, 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 "Agreement").
The Agreement is subject to certain conditions pertaining to ongoing negotiations related to the optimisation of the scope, technical specifications, and other standard commercial terms and conditions. Subject to these conditions being satisfied the Agreement is expected to run for a period of 2 years with a value in excess of USD 20 million. The Company will announce further details once the final terms have been agreed.
Soraya Narfeldt, CEO of RA International, commented: "We are delighted to have been chosen as the preferred contractor to work with Danakali and its partners on this project which we see as globally significant. The United Nations Development Programme (UNDP) has indicated Colluli has the potential to significantly boost the Eritrean economy and have a substantial positive impact on the Sustainable Development Agenda of Eritrea. The appointment of RA International is testament to sound execution of our growth strategy, highlighting continued new business momentum with another significant award in the mining sector."
Niels Wage, CEO of Danakali, commented: "I am delighted to announce the appointment of RA International as our preferred accommodation and support services contractor. They have a significant amount of experience in executing projects of the scale and quality DNK requires for the Project. We are very confident in RA International's capabilities to deliver a high-quality product and service. This again demonstrates DNK is progressing on time with its planned development."
Enquiries:
RA International Group PLC Soraya Narfeldt, Chief Executive Officer Lars Narfeldt, Chief Operating Officer Andrew Bolter, Chief Financial Officer
| Via Bamburgh Capital |
Cenkos Securities PLC (Nominated Adviser and Broker) Derrick Lee Peter Lynch
| +44 (0)131 220 6939 |
Bamburgh Capital Limited (Financial PR & Investor Relations) Murdo Montgomery
| +44 (0)191 229 9500 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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