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M&R receives R285m Gautrain business disruption insurance payout


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M&R receives R285m Gautrain business disruption insurance payout
Group’s investment in concession company and the fair value adjustments it does on the investment are ‘very much linked to ridership’ – which has plummeted.
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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). ....

South Africa , Murray Roberts , Ed Jardim , Tlago Ramalepa , Bombela Concession Company , Gautrain Management Agency , Gauteng Provincial Government , Ter Mors , Asia Pacific , முர்ரே ராபர்ட்ஸ் , எட் ஜார்டிம் , கௌஊட்டெங் மாகாண அரசு , தேர் மோர்ச் , ஆசியா பெஸிஃபிக் ,