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Kentz Corp. Ltd. (KENZ.LN), an engineering firm focused on the energy and mining sectors, said Friday it has secured a $32.7 million contract to install cables and electrical equipment in Saudi Arabia.
A joint venture between U.S. aluminum firm Alcoa Inc. (AA) and Saudi mining company Ma'aden has contracted Kentz to install 30 kilometers of cables, lighting fixtures, power distribution systems, instrument field devices and control equipment.
The venture was set up to establish and develop an aluminum industry in Saudi Arabia.
Work will start immediately and is scheduled to be completed in November 2013.
Shares closed Thursday at 448.5 pence.
-By Iain Packham, Dow Jones Newswires; 44-20-7842-9269; firstname.lastname@example.org