Group Five`s Intertoll Further Strengthens Interna
GROUP FIVE`S INTERTOLL FURTHER STRENGTHENS INTERNATIONAL TURNOVER
GROUP FIVE LIMITED
Press release
Friday July 5 2002
GROUP FIVE`S INTERTOLL FURTHER STRENGTHENS INTERNATIONAL TURNOVER
Group Five today announced that its subsidiary, Intertoll, has further
strengthened its position in the Indian market with the award of two 8-year
contracts, with a combined value of US$70million, to operate and maintain
two toll roads.
The two national roads are situated in India`s culturally important "Golden
Triangle" region. The first connects Delhi to Jaipur and the second Delhi to
Agra. Agra is the home of the Taj Mahal.
"This award further realises our strategies of increasing our foreign
currency earnings and increasing steady long term revenues. Currently, more
than 30% of our turnover is generated outside South Africa and this is set
to grow," said Group Five CEO Mike Lomas.
"Intertoll will execute the work through its Indian joint venture company,
Intertoll ICS, which will improve the roads, provide and operate new toll
facilities, and be responsible for all maintenance and traffic management. A
host of high-tech systems will be installed by Intertoll to improve safety
and road user services along these national routes".
Intertoll forms part of Group Five`s strategic portfolio of operations and
maintenance services, which complement its construction business activities
and infrastructure development services.
This award affirms the interim results announcement, by Group Five in
February 2002, that Intertoll was strongly positioned for continued growth
in turnover and profitability.
-ends-
Issued by:
Brunswick SA (011) 442 8803
Taryn Proksch 083 273 1301
Enquiries:
Mike Lomas, CEO Group Five (011) 806 0245
082 447 0641
Howard Turner, FD Group Five (011) 806 0242
082 442 2821
Date: 05/07/2002 10:03:57 AM Produced by the SENS Department
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