Energoprojekt has signed a new construction contract worth € 16.4m in Ghana. The company will build Law House in the city of Akra. Local government is an investor in the deal. The project involves a total of 21,000 sqm and is expected to be realized in three years.
Our view:
Energoprojekt has now signed new contracts worth € 78.7m so far in 2009 and we believe there is a good chance of the firm achieving € 118m by the year-end. We expect a positive market reaction to the news.