JSE-listed construction company Basil Read has been awarded a R1.2-billion contract for Phase 2C and Phase 2H of the Olifants River Water Resources development project, bringing the group’s total order book for the year to R14-billion.

Construction of the Trans-Caledon Tunnel Authority project will take place over a 21-month period, the JSE-listed firm said on Thursday.

The award is the first phase of a two-phase project totalling R2-billion.

Further announcements relating to the award of the second phase, comprising Phase 2D, would be made in due course, Basil Read stated.

Basil Read closed at R14.15 a share on Thursday, 1% up from the previous day’s closing price.
 

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