Fox Marble Holdings (AIM: FOX ) has been awarded a contract to supply up to 20,000 sq metres of paving to a local municipality for the town square in the town of Suhareka in Kosovo following a competitive tender process.
This stone is to be supplied from Fox Marble's factory in Kosovo with the first 8,000 square metres to be delivered by September 2020. The stone will be processed from existing blocks of Grigio Argento, Flora and Alexandrian White already extracted and awaiting processing.
Material already specified and contracted under the first two stages of the project has a total value in excess of €400,000, and once all 20,000 square metres has been supplied is the project is expected to be worth in excess of €750,000.
As a result of the lockdown in place in Kosovo due to the Coronavirus, the supply of the material will be delayed until the local contractor installing the paving is allowed to resume work on this municipal project. However, Fox Marble currently anticipates that work will resume on this project by the end of Q3 2020.
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Chris Gilbert, CEO, commented "This contract to supply a local municipality to pave a large open public space confirms Fox Marble's position as a leading provider of dimension stone within Kosovo and is a testament to the efficiency of the factory and the quality of locally sourced marble for such a prestigious project. Our factory which as a designated industry is able to continue to operate to meet demand."