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Contract to operate the Gautrain post 2026 to go out on tender
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M&R receives R285m Gautrain business disruption insurance payout
Groupâs investment in concession company and the fair value adjustments it does on the investment are âvery much linked to ridershipâ â which has plummeted. 00:01
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Passenger numbers plunged from 55 000 a day pre-Covid-19 to as low as 6 000 last year, rising to around 13 000 currently. Image: Nadine Hutton/Bloomberg
JSE-listed multinational engineering and construction group Murray & Roberts (M&R) has successfully finalised a Gautrain business disruption insurance claim and received R285 million because of the low ridership levels on the Gautrain caused by the Covid-19 lockdown.
M&R CEO Henry Laas said the proceeds from the claim were used to repay some of the high-interest debt in the Bombela Concession Company (BCC).
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Not right now, but it’s ‘an important part of our thinking’ says CEO Henry Laas. 00:03
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Murray & Roberts (M&R) anticipates listing the multinational engineering and construction group internationally.
M&R CEO Henry Laas said an international listing has always been part of the groupâs plan since the new strategic future was conceptually developed.
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But only one of the huge contract awards has been announced. 00:01
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On the mend. Image: Moneyweb
JSE-listed engineering and construction group Murray & Roberts (M&R) could see its order book grow to about R80 billion by its financial year-end in June.
This is further good news for the group, following it reporting in March this year that it reached a record order book of R60.5 billion at end-December.
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M&R expecting lower profit (not a loss) from Gautrain
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