Basil Read

By 2006, Basil Read had emerged from a highly challenging period in the construction sector. Backed by an exceptional set of results, the group was wellcapitalised and ideally positioned to take full advantage of buoyant market conditions, as well as a period of accelerated infrastructural development. With the construction sector in the midst of a... n unprecedented boom, Basil Read's business was now firmly focused on the local market as well as selected private clients in subSaharan Africa. Six years into the new decade, the group was characterised not only by organic growth, but robust acquisitive growth to enhance its operations as well. During 2006, Basil Read reached an agreement with Blasting & Excavating, a leading drilling and blasting company, to acquire its entire issued share capital. Basil Read also increased its shareholding in BRTsima Construction and Newport Construction to 51%. This was followed by Basil Read becoming a majority shareholder in Spray Pave (Pty) Ltd, and Stone and Allied Industries. Continuing the growth trend of 2005, Basil Read's Building division secured several new contracts in 2006, including the revitalisation of Paarl Hospital and the construction of three new schools for Cosmo City. The year proved to be rewarding for Roads and Civil Engineering, with the upgrading of Pier One in Durban Harbour and marine works at Richards Bay, as well as major infrastructural development at the Coega Industrial Development Zone. In 2006, the Basil Read Newport Construction Joint Venture was awarded the contract for the Coega River Bridges as well as the construction of the MR435 in Port Elizabeth. Basil Read's Opencast Mining division reported a highly positive year when it secured a prestigious contract in Namibia. It was contracted to a pioneering project, tasked with opening up the hilly, uneven surfaces in the northwest of the Rössing Uranium Mine's Open Pit. Where the project involved a lot of prestripping in preparation for the next phase of Rössing's mining activities.Read More