GR Engineering Services (ASX:GNG) secures $107 million contract

GR Engineering Services (ASX:GNG) has been awarded a design and construction contract for work at the Lake Way Project.

The project which produced sulphate of potash has an expected mine life of over 20 years, and is located in the Goldfields region of Western Australia.

The company anticipates around $107 million revenue over the life of the contract and saysthe majority of this revenue is likely to be realised in the financial year ending 30 June 2021.

GR Engineering’s managing director, Geoff Jones says the company are “extremely pleased to have been engaged to play a key role in the delivery of the process plant and non-process infrastructure for the Lake Way Project”.

Shares in GR Engineering Services (ASX:GNG) are trading 4.79 per cent higher at 77 cents.
 
Copyright 2020 – Finance News Network

Source: Finance News Network