Kardan NV (TASE: KRNV;AEX:KARD) subsidiary Tahal Group BV has signed a contract to build €34 million water supply infrastructure project in Angola. The agreement was signed with Angola's national water company, Empresa Publica de Agua (EPAL). The Angolan government will finance the project.
Tahal will build a water supply network distribution system to seven neighborhoods in a 3,530-acrea south of the capital, Luanda. The company will design distribution system and install 400 kilometers of PVC pipes and 140 fountains. Construction will take 18 months.
Tahal president and CEO Gustavo Kronenberg said, "We've spotted the huge potential in Angola. In 2008, we'll focus on promoting large-scale water infrastructure projects in regions where we already operate, and we'll also seek attractive opportunities in new regions, in line with the company's strategy."
Tahal is already carrying out water infrastructure projects worth hundreds of millions of dollars in Europe, Latin America, Africa, and Asia.
Published by Globes [online], Israel business news - www.globes-online.com - on February 14, 2008
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