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RA International shares advance as it land contract with UN in Somalia

Proactive Investors
Friday August 17, 2018

Work is due to start this autumn and the total contract value is anticipated over US$30mln

It will provide services to two camps in Somalia

RA International Group PLC (LON:RAI) shares advanced on Thursday as it secured a new five-year contract for two camps in Somalia.

The company, which provides services to remote locations, has been contracted for electrical works and construction of power infrastructure at the United Nations Support Office (UNSOS) and African Union Mission in Somalia (AMISOM) camps.

It will deliver a full end-to-end managed service for the construction of power infrastructure, including the installation of UN-provided generators and fuel tanks, as well as distribution services.

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Work is due to start this autumn and the total contract value is anticipated over US$30mln.

"We are delighted to have secured this long-term contract for the construction of power houses in Somalia,” said Soraya Narfeldt, chief executive RA International.

"RA International has managed and completed power house projects effectively in the past and it demonstrates great confidence in our capabilities that we have been reselected as the preferred provider by UNSOS and AMISOM for construction and support services for this project.”

Narfeldt added: "We very much look forward to building on our relationship with the UNSOS and AMISOM over the years ahead.

“The board remains committed to the next phase of our development as we look to capitalise on the exciting opportunities within our sector."

RA shares gained 5p or 6.4% to trade at 83p.

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