Aveng warns of operating loss as Philippines LNG project suffers further delays
Infrastructure and resources company Aveng's share price on the JSE fell by more than 28% on April 13 after it announced that the underperforming Batangas liquefied natural gas (BLNG) terminal project being delivered by subsidiary company McConnell Dowell, has suffered further delay. The BLNG project is lossmaking and resulted in McConnell Dowell's Southeast Asia business unit reporting a loss for the six months ended December 31, 2022.