Kentz awarded US$33.6m contract by Bariq Mining Limited - 23 May 2011
London, 23 May 2011 - Kentz Corporation Limited (LSE: KENZ), the holding company of the Kentz Engineering and Construction Group, through its operating unit Saudi Arabian Kentz Co Ltd, is pleased to announce the award of a procurement, construction and commissioning contract worth in the order of US$33.6 million by Bariq Mining Limited.
Kentz's scope of work encompasses the structural, mechanical, piping, electrical and instrumentation works for Bariq Mining’s copper processing plant at its new copper mine at Jabal Sayid in Western Saudi Arabia. The mine will produce copper concentrate with gold and silver credits.
SNC Lavalin, for which Kentz has worked in the mining and metals sector for many years, is the Engineering, Procurement and Construction Management Contractor for the project.
Bariq Mining Limited is a subsidiary of Equinox Minerals Limited based in Perth Australia and is listed on the Australian and Canadian bourses. Bariq Mining’s operating licence is the first one to be issued to the private sector by the Ministry of Petroleum and Minerals in Saudi Arabia and forms part of Saudi Arabia’s ongoing expansion of its mining and metals sector.
Kentz has been operating in Saudi Arabia for almost 35 years focussing on the oil, gas petrochemical and industrial sectors.
Dr. Hugh O'Donnell, chief executive of Kentz, commented: "Kentz is delighted to be working in association with Bariq Mining on the development of the mining and metals sector in Saudi Arabia. We have a strong core competency in the sector following many years of operation in Africa, Australia and the Caribbean and look forward to bringing this to bear on this fast track project in Saudi Arabia.”
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For further information please contact:
Kentz Corporation Limited
Tel: +44 (0)20 3159 4000
Elizabeth Rous
Catríona Nugent
Evolution Securities Limited (Nomad and Broker)
Tel: +44 (0)20 7071 4300
Chris Sim
Tim Redfern
Neil Elliot
About Kentz
Kentz is a global engineering specialist solutions provider, which serves a blue chip client base primarily in the oil and gas, petrochemical and mining and metals sectors. It is listed on the AIM market of the London Stock Exchange (symbol: KENZ). In the year ending December 2010, the company generated revenues of US$1.06 billion and profit before tax of US$67.5 million.
Kentz has over 11,000 employees in 27 countries. Its three main business lines are; specialist engineering, procurement and construction (EPC) services, construction, and technical support services. It has a proven track record of delivering mechanical, electrical, controls and instrumentation engineering, construction and management services in some of the most remote locations on earth.
Please find further information on the Kentz website www.kentz.com