Engineering and construction firm Monadelphous has today announced the securing of several new contracts, seeing work out for another three years.
Information about four new contracts were announced to the ASX this afternoon, with a total combined value $140 million worth of work.
Monadelphous managing director Rob Velletri spoke about the contracts, saying “These contract and contract extensions will support our recurring revenue base”.
There are two brand-new contracts, including a one-year contract with Rio Tinto Coal and Allied for dragline and shovel shutdowns at Mt Thorley Warkworth and other Hunter Valley operations in NSW, with extension options of up to four years.
The other new cotnract is a three-year maintenance services contract with BHP Billiton’s Nickel West operations, which covers mechanical and electrical services in WA and includes an option for extending the contract by two years.
The other contracts are extensions of existing contracts, including As two-year extension of the onsite services contract with BHP Billiton at Olympic Dam in South Australia, carrying on 20 years-worth of service at the mine, and a one-year extension to services at BP Kwinana in WA.