Murray & Roberts's shares rise
July 4, 2005
Construction group Murray & Roberts's (MUR) share price spiked more than seven percent on Monday on news that the Bombela consortium in which the group has a 25% stake had been named as the preferred bidder to build the Gautrain Rapid Rail Link.
The group's share price jumped 100 cents to an intraday high of 15.00 rand per share on the news.
At 14h15, the group's share price on the JSE Securities Exchange was up 2.86% or 40 cents to 14.45 rand a share.
The other partners in the consortium are listed Canadian group Bombardier (25%), French construction firm Bouygues (25%) Loliwe Rail Contractors (16.5%) and Loliwe Rail Express (8.5%).
The rail project, which see Johannesburg and Pretoria linked by speed train, with an additional link to Johannesburg International Airport, is expected to be completed before the 2010 Soccer World Cup, which South Africa will host. - I-Net Bridge
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