Baran has won the largest contract in its history in Africa worth NIS 800 million

Baran has won the largest contract in its history: the engineering company managed by Sharon Zaid has signed an agreement with a government in Africa, according to which Baran will carry out the planning, procurement and construction of a project in the field of water infrastructure for NIS 800 million.
The project will be completed within four years from the date of commencement of the works, which depends on some preconditions. These include closing a final financing agreement based on the agreement signed by the African Ministry of Finance, and depositing a down payment of NIS 120 million in the account of Bern's subsidiary, which will carry out the project. The project includes the construction of hundreds of wells and drinking water systems for hundreds of villages.
Sharon Zaid, CEO of Bern, said that the company has worked in the past two years to strengthen its capabilities and utilize its extensive experience in Israel and abroad, in order to deepen its involvement in the field of infrastructure in Israel and around the world. It has become a strategic area for many governments and countries, and enjoys the investment of governments and institutional bodies in extensive infrastructure projects.
The current project is 2.5 times larger than Bern's previous large project in Africa, in which it carried out the planning and execution work of 61 km of piping, water catchment facilities, pumping systems, operational water reservoirs and power and control systems in Ethiopia as a subcontractor for Netafim.
In addition to the current project, in July 2018, Bern signed three memoranda of understanding with a government authority in Africa for development, including agricultural development to carry out infrastructure projects in the fields of water and agriculture. These include the preparation of master plans for agricultural development in the country and the implementation of agricultural projects amounting to 500,000 dunams.
As part of its efforts to develop its activities in the field of water infrastructure, Bern signed in June 2020 an agreement with Mekorot to cooperate in planning and executing projects in the field, including water treatment, water quality desalination, wastewater treatment and recovery, flood detection, meter increase, water safety and security, resource management Water, water supply, command and control and operational models for cyber protection for water facilities outside Israel.
Bern has suffered heavy losses in the last decade, but recorded a small profit of NIS 4.7 million in a cumulative turnover of NIS 460 million in the last five quarters. Following the improvement in its financial results and the raising of NIS 31 million in the issuance of rights in January 2020, and the repayment of the last installment of principal and interest of Series B bonds in the amount of NIS 32 million, the company's share rose 61% since the beginning of 2020 to NIS 121 million. The yield on Bern's Series B bonds, which have a balance of NIS 31 million, fell from a level of 51% in April 2020 to a level of 8.4% today.