Monadelphous Secures $140m in New Contracts
Monadelphous is a leading Australian engineering group providing construction, maintenance and industrial services to the resources, energy and infrastructure sectors. They are involved in some of Australia’s biggest and most complex projects and facilities. Reflecting their position as one of the top leaders in their chosen markets, the Group announced today, 7 May 2014, through an ASX Announcement that Monadelphous Group Limited has secured maintenance services contracts with major customers in the resources and energy markets. The contracts have a combined value of approximately $140 million.
Monadelphous’ contracts consist of the following: 1) A three-year Maintenance Services Framework Agreement with BHP Billiton Nickel West. This agreement includes a two-year extension option, and covers both mechanical and electrical services across all of BHP Billiton Nickel West’s operations in Western Australia (WA); 2) A two-year extension of an onsite services contract at BHP Billiton’s Olympic Dam operation in South Australia, where Monadelphous has been working for more than 20 years; 3) A new one-year contract with Rio Tinto Coal and Allied for dragline and shovel shutdowns at their Mount Thorley Warkworth and Hunter Valley Operations sites in New South Wales. The agreement includes extension options of up to four years; and 4) A one-year extension to the onsite services contract with BP at Kwinana, WA.
“These contracts and contract extensions will support our recurring revenue base and reflect the importance we place on developing and maintaining long-term relationships with customers in our core markets,” says Monadelphous Managing Director Rob Velletri.
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