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  • http://www.nation.co.ke/business/news/Rift+Valley+Railways+Investments+secures+ADB+loan/-/1006/1204936/-/d3piy6/-/index.html

    Citadel Capital Platform Company Africa Railways says its subsidiary Rift Valley Railways Investments has achieved a positive Earnings Before Net Interest and Tax (EBITDA) for the first time in its recent history.

    And the African Development Bank has approved a US$40 million loan (Sh3.4 billion) to finance Rift Valley Railways Investments (RVRI).

    RVRI of Kenya-Uganda has reported US$674,000 (Sh57.28 million) in EBITDA for the month of June 2011.

    This marks the first time RVRI has recorded a positive EBITDA since Citadel Capital, the leading private equity firm in the Middle East and Africa with US$ 8.7 billion in investments under control in 15 industries spanning 14 countries, purchased an indirect stake in the company in December 2009. Following a shareholder restructuring in mid-2010, the Firm currently owns a 51 per cent stake in RVRI via its Platform Company in the Africa railways sector, Africa Railways.

    RVRI CEO Brown Ondego confirmed this, attributing the positive earnings to the dedication of his team and the support from the shareholders. “This is indeed a significant start to RVRI’s turnaround process” Brown said.

    RVRI has a 25-year concession to operate a century-old rail line with some 2,352km of track linking the Indian Ocean port of Mombasa in Kenya to the interiors of Kenya and Uganda, including the capital city of Kampala.


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    News items and announcements for the year: 2011

    (Article In Courtsey of Nation News Paper Online Edition)

    http://www.nation.co.ke/business/news/Rift+Valley+Railways+Investments+secures+ADB+loan/-/1006/1204936/-/d3piy6/-/index.html

    Citadel Capital Platform Company Africa Railways says its subsidiary Rift Valley Railways Investments has achieved a positive Earnings Before Net Interest and Tax (EBITDA) for the first time in its recent history.

    And the African Development Bank has approved a US$40 million loan (Sh3.4 billion) to finance Rift Valley Railways Investments (RVRI).

    RVRI of Kenya-Uganda has reported US$674,000 (Sh57.28 million) in EBITDA for the month of June 2011.

    This marks the first time RVRI has recorded a positive EBITDA since Citadel Capital, the leading private equity firm in the Middle East and Africa with US$ 8.7 billion in investments under control in 15 industries spanning 14 countries, purchased an indirect stake in the company in December 2009. Following a shareholder restructuring in mid-2010, the Firm currently owns a 51 per cent stake in RVRI via its Platform Company in the Africa railways sector, Africa Railways.

    RVRI CEO Brown Ondego confirmed this, attributing the positive earnings to the dedication of his team and the support from the shareholders. “This is indeed a significant start to RVRI’s turnaround process” Brown said.

    RVRI has a 25-year concession to operate a century-old rail line with some 2,352km of track linking the Indian Ocean port of Mombasa in Kenya to the interiors of Kenya and Uganda, including the capital city of Kampala.

    Other News for the year 2011
    2/8/2011 RVR Secures USD287M Financing Package to Unlock 5-year Turnaround Programme (RVR Press Release) Download
    28/7/2011 Rift Valley Railways Secures ADB loan Download
    14/7/2011 East African Cables profits re-bound Download
    19/5/2011 TransCentury Subsidiary Acquires Zambian Electrical Engineering and Transformer Supplier Download
    11/4/2011 2010 Annual Report and Financial Statements Download
    28/3/2011 Trans-Century Appoints New Chairman Download
    13/05/2011 Trans-Century Acquires Plant in the Democratic Republic of Congo Download
    28/3/2011 Trans-Century Group announces new appointments Download
    11/4/2011 TCL Releases 2010 Financial Results Download
    OTHER NEWS