Monadelphous Group (ASX:MND) secures 5 year crane contract with Fortescue Metals (ASX:FMG)

Engineering company Monadelphous Group (ASX:MND) has secured a new five-year crane services contract with Fortescue Metals Group Ltd (ASX:FMG).

Th contract is valued at approximately $150 million in total.

It’s for the provision of crane services supporting general repairs, maintenance and shutdown activities to Fortescue’s Solomon and Eliwana operations in the Pilbara region of Western Australia.

Monadelphous has provided crane services to Fortescue’s Solomon operations since 2017 and last year, expanded those services to Fortescue’s Eliwana operations.

Shares in Monadelphous Group (ASX:MND) are trading 0.53 per cent lower at $11.19.
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Source: Finance News Network