Lonrho unit gets $5 mln contracts in Angola
Thématique :
angola
Dec 12 (Reuters)
Lonrho Plc, the British-based conglomerate with various business interests in Africa, said on Friday its e-Kwikbuild unit received two contracts worth $5 million for its prefabricated buildings in Angola.
The company said the first contract, worth $4.5 million, was from Kimbo Limbombewa, a local non-governmental organisation (NGO), to develop a school, training rooms and accommodation for young orphans.
Lonrho, which holds 55.6 percent in e-Kwikbuild, said it also received a $500,000 contract from Sul Engineeria for the supply of an office and residential buildings on the outskirts of Luanda.
E-Kwikbuild, which develops insulated prefabricated buildings, had said in November that it completed and started production from a new prefabricated panel production plant in Port Elizabeth, South Africa.
"With the opening of the new production facility in Port Elizabeth we are now seeing an increasing order book across other African countries," Chairman David Lenigas said in a statement.
Shares of Lonrho, which have lost about 90 percent of their value since the beginning of the year, were up 2.4 percent at 4.59 pence at 1009 GMT.
Lonrho Plc, the British-based conglomerate with various business interests in Africa, said on Friday its e-Kwikbuild unit received two contracts worth $5 million for its prefabricated buildings in Angola.
The company said the first contract, worth $4.5 million, was from Kimbo Limbombewa, a local non-governmental organisation (NGO), to develop a school, training rooms and accommodation for young orphans.
Lonrho, which holds 55.6 percent in e-Kwikbuild, said it also received a $500,000 contract from Sul Engineeria for the supply of an office and residential buildings on the outskirts of Luanda.
E-Kwikbuild, which develops insulated prefabricated buildings, had said in November that it completed and started production from a new prefabricated panel production plant in Port Elizabeth, South Africa.
"With the opening of the new production facility in Port Elizabeth we are now seeing an increasing order book across other African countries," Chairman David Lenigas said in a statement.
Shares of Lonrho, which have lost about 90 percent of their value since the beginning of the year, were up 2.4 percent at 4.59 pence at 1009 GMT.
