The group says its geographic diversity, and that it has a number of government contracts, should help offset the risks posed by the pandemic
Embattled infrastructure and mining group Aveng, whose share price has fallen more than 99% over the past three years, says it may benefit from a number of new government contracts as countries attempt to offset the economic effects of Covid-19 through stimulus.
Peers including Group Five, Esor and Basil Read have both had their JSE listings suspended and are in business rescue. In addition to the secured orders, McConnell Dowell has in excess of A$1.2bn of tenders under evaluation, pending contract award. Tender volumes are expected to increase further over the coming months, particularly in support of stimulus packages as economies enter a post-lockdown period, the group said.
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