Downer EDI secures contracts worth $400m
November 10, 2009
Downer EDI Limited (DOW) said that its engineering division had secured more than $400 million worth of contracts on upcoming projects. Downer EDI said the work included a two-year $170 million contract with Wesfarmers, as written on egoli.com.au, for the expansion of its Curragh mine in central Queensland.
A further $90 million in contracts was for work on the expansion BHP Billiton iron ore at its “Rapid Growth Phase 5 Project” in Western Australia.
Downer EDI managing director Geoff Knox said the contracts reinforced the strong business model of the company.
“These wins reinforce Downer’s position as a leading provider of mechanical and electrical contracting services,” Mr Knox said.
“The Curragh project, scheduled to commence in December this year, includes design and construction of a stand alone coal-processing facility to increase the mine’s total processing capacity to 2300 t/h. The project also involves tie-ins to existing brownfields infrastructure.”
The company’s work-in-hand remains in excess of $16 billion.
At 1406 AEDT, Downer shares were worth $8.88, up 42c.
A further $90 million in contracts was for work on the expansion BHP Billiton iron ore at its “Rapid Growth Phase 5 Project” in Western Australia.
Downer EDI managing director Geoff Knox said the contracts reinforced the strong business model of the company.
“These wins reinforce Downer’s position as a leading provider of mechanical and electrical contracting services,” Mr Knox said.
“The Curragh project, scheduled to commence in December this year, includes design and construction of a stand alone coal-processing facility to increase the mine’s total processing capacity to 2300 t/h. The project also involves tie-ins to existing brownfields infrastructure.”
The company’s work-in-hand remains in excess of $16 billion.
At 1406 AEDT, Downer shares were worth $8.88, up 42c.
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