Aveng Strabag Joint Venture to appeal ruling on calling of Mtentu bridge bonds

The Aveng Strabag Joint Venture (ASJV) reported on Friday that it would appeal the dismissal of an urgent application, lodged by the ASJV in February, seeking to prevent the South African National Roads Agency Limited (Sanral) from making a call on the bonds relating to the Mtentu bridge contract, terminated due to force majeure. The ASJV launched a pre-emptive application in the North Gauteng High Court for an order preventing Sanral from making a call on the Mtentu bonds until its dispute with the agency had been resolved.