New joint venture contract for BAM International in Tanzania
Bunnik, The Netherlands, 3 May 2010 - BAM International bv - the operating company of Royal BAM Group nv, active outside Europe - has won in joint venture with the Danish civil engineering contractor Per Aarsleff A/S a road construction contract in Tanzania with a contract value of approximately US$97 million, of which half for BAM.
The Aarsleff - BAM International joint venture will be renovating a 95 kilometers stretch of the trunk road between Laela and Sumbawanga. The road is situated in the south-west of Tanzania, near the borders of Zambia. Works are planned to start in June 2010 and include the upgrading of the gravel road to a single carriageway double surfaced road, as well as the construction of three new bridges and the rehabilitation of one existing bridge. It is expected that the renovation activities will be completed by mid 2013.
Client is the Chief Executive Officer of the Millennium Challenge Account - Tanzania (MCA-T). Millennium Challenge Account is the five year broad based bilateral development compact, run by the Millennium Challenge Corporation (MCC), a US government agency created to reduce poverty through sustainable economic growth (www.mca-t.go.tz).
Currently the same joint venture is renovating a 150 kilometers stretch of the Tanzania Zambia Highway between Iyovi and Iringa for Tanroads, the Tanzania National Roads Agency, which will be completed by mid 2011 (contract value for BAM €30 million). This year BAM International will complete the second phase of the rehabilitation of the Dar es Salaam Airport in Tanzania, with a contract value of €26 million.
Further information:
- Press: A.C. Pronk, +31 (0)30 659 86 21
- Analysts: P.R.E. Snippe, +31 (0)30 659 87 07