Monadelphous (ASX:MND) secures $120 million in new contracts

Engineering company Monadelphous Group Limited (ASX:MND) has secured construction and maintenance contracts in the resources sector with a combined value of approximately $120 million.

Under its WAIO Asset Panel Framework Agreement with BHP, Monadelphous has a contract to provide structural, mechanical and electrical upgrades at the Newman Hub site in the Pilbara, Western Australia and a contract associated with the dewatering of surplus water at Jimblebar mine site in Newman, Western Australia.

Monadelphous entered into an Olympic Dam Asset Projects Framework Agreement with BHP to provide multi-disciplinary construction services at the Olympic Dam copper mine in South Australia. It has now secured its first deal under the agreement for the supply and construction of acid storage tanks and connection to the existing operating acid plant.

It has also secured a contract to undertake a major dragline shutdown for BHP Mitsubishi Alliance at its Saraji Mine, located near Dysart, Queensland.

Shares in Monadelphous (ASX:MND) are trading 1.4 per cent higher at $10.61.

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Source: Finance News Network