KIR - Kairos Industrial Holdings - Business Update - Medupi Power Station
KIR
KIR
KIR - Kairos Industrial Holdings - Business Update - Medupi Power Station
Kairos Industrial Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1987/002927/06)
Share code: KIR ISIN: ZAE000011284
("Kairos" or "the Group")
BUSINESS UPDATE - MEDUPI POWER STATION
Kairos is pleased to announce the award of a contract to its subsidiary, BroKrew
Industrial (Pty) Limited, relating to the fabrication, corrosion protection and
delivery of ducting to be utilised for six air-cooled condenser sections of the
Medupi Power Station at Lephalale (Ellisras). The contract received from Kentz
(Pty) Limited amounts to R390 million (inclusive of VAT) over a 42 month period.
Kentz (Pty) Limited forms part of Kentz Corporation Limited, an international
engineering and construction group. The project entails the manufacturing of
approximately 10,600 tons of plate work in various specifications. BroKrew
Industrial has commissioned specialised equipment sourced from Canada as well as
Italy in order to successfully perform its obligations under the contract. The
final product will resemble a "radiator in the sky" the size of twelve rugby
fields.
CE Wouter van Deventer says: "The Group remains committed to becoming
increasingly involved in the huge infrastructural spend that will be required
within the country over the next decade. The ability to participate in Eskom`s
development roll-out plan provides a significant challenge to the Group and
should provide a solid and sustainable earnings platform for the short to medium
term."
Pretoria
2 December 2008
Sponsor: Bridge Capital Advisors (Pty) Limited
Date: 02/12/2008 08:22:02 Produced by the JSE SENS Department.
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