Bombela Concession Company to be awarded R354m in Gautrain arbitration case

Construction group Murray & Roberts' (M&R's) share price on the JSE rose by 6% early on Friday after it announced that an arbitration tribunal had awarded the Bombela Concession Company (BCC) a provisional quantum award of R354-million in relation to a claim lodged by the Bombela Civil Joint Venture (BCJV) against the Gauteng provincial government for the costs incurred as a result of design changes to the Gautrain project. BCC, which operates the Gautrain system under a concession agreement, had contracted the BCJV, in which construction group M&R holds a 45% stake, to design and build the Gautrain system.