Monadelphous (ASX:MND) secures $150m worth of new contracts

Engineering company Monadelphous Group has secured a number of new construction and maintenance contracts worth a combined $150 million.

In the iron ore market in the Pilbara region the company has secured a new contract under its existing BHP WAIO Asset Panel Framework Agreement associated with the dewatering of surplus water at Mining Area C. A three-year contract with Rio Tinto for the provision of maintenance services and minor projects on its Pilbara marine infrastructure. And a one-year extension to its two existing fixed plant maintenance and shutdown crane services contracts with Fortescue Metals Group.

In addition it has also been appointed to BHP's WAIO site engineering panel for a further two years.

In Papua new Guinea the company has also been awarded a new three-year contract to provide minor capital project services at Newcrest Mining's gold operations on Lihir Island.

It has also secured a four-year contract to continue providing mechanical and electrical maintenance for a customer in the Queenlsand coal seam gas market.

The company says, “As always, we remain focused on the safe and efficient delivery of high-quality service solutions and we are pleased to continue to be recognised as a partner of choice by our customers.”

Shares in Monadelphous (ASX:MND) are trading 0.42 per cent lower at $11.77.

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Source: Finance News Network