Date: Wednesday, 30 June 2021
This announcement contains inside information
RA INTERNATIONAL GROUP PLC
("RA International" or the "Company")
Commercial Terms Agreed with Danakali Limited
RA International Group PLC (AIM: RAI), a specialist provider of complex and integrated remote site services to Humanitarian, Governmental and Commercial organisations globally, is pleased to announce it has successfully concluded contract discussions with Danakali Limited (LSE: DNK, ASX: DNK) for the construction of camp accommodation for 1200 personnel, administration and service facilities as well as the provision of integrated facilities management services in support of the Colluli Mining Share Company ("CMSC") development in Eritrea, East Africa.
The key commercial terms will be released when all approvals have been obtained, which include the CMSC board and related government departments in Eritrea.
The construction works are to be phased, with the first of three phases commencing imminently upon receiving the necessary approvals and subsequent phases commencing as CMSC funding is available. Construction activities are anticipated to be completed within a year with the operating contract commencing immediately post-construction.
Soraya Narfeldt, CEO of RA International, commented: " Since our appointment as preferred contractor was confirmed last year, we have continued to work closely with Danakali and its partners as they have developed their plans and we look forward to commencing our work with them on this globally significant project.
The updated scope of work and terms of the contract concluded underscores a cooperative and relationship driven approach. We continue to be very encouraged by our business development activity and look forward to building on our recent momentum."
RA International Group PLC
Soraya Narfeldt, Chief Executive Officer
Lars Narfeldt, Chief Operating Officer
Andrew Bolter, Chief Financial Officer
Via Bamburgh Capital
Canaccord Genuity Limited (Nominated Adviser and Broker)
+44 (0)207 523 8000
Bamburgh Capital Limited (Financial PR & Investor Relations)
+44 (0)191 249 7442
About RA International
RA International is a leading provider of services to remote locations in Africa and the Middle East. The Company offers its services through three channels: construction, integrated facilities management and supply chain, and services three main client groups: humanitarian and aid agencies, governments and commercial customers, predominantly in the oil and gas and mining sectors. It has a strong customer base, largely comprising UN agencies, western governments and global corporations.