24/12/2009 - 11:24

Decmil awarded $48m Pluto contract

24/12/2009 - 11:24

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The stock price of civil engineering and construction company Decmil Australia has climbed this morning after news it won a $48 million contract variation for additional work on the Pluto LNG Project with Woodside Energy.

Decmil awarded $48m Pluto contract

The stock price of civil engineering and construction company Decmil Australia has climbed this morning after news it won a $48 million contract variation for additional work on the Pluto LNG Project with Woodside Energy.

The company said the variation extends the total contract value awarded to Decmil by Woodside for temporary facilities installation and miscellaneous works for Pluto Site B to approximately $137 million.

Work including concrete, earthworks, roadworks and pavements will commence immediately and is due to be completed by mid-July 2010.

Today's announcement follows yesterday's news when Decmil was awarded a $74 million sub-contract by Thiess for the design and construction of temporary construction facilities on the Gorgon Project.

This latest contract lifts the group's forward order book to $398 million, of which $218 million is expected to be attributed to the 2010-11 financial year.

Decmil Group chief executive, Scott Criddle said Decmil has been awarded over $282 million in contracts for the Pluto LNG Project.

"Decmil has maintained solid working relationship with Woodside over the past 30-years and the Company's ability to continually win and deliver construction contracts on-budget and on-time is testament to the quality people, processes and systems it has in place," Mr Criddle said in a statement.

Shares in Decmil had lifted 5 cents, or 3.85 per cent, to $1.35 at 1420AEST.

 

Full announcement below:

Decmil awarded A$48M in additional civil works for Pluto LNG Project

Highlights
 Woodside awards Decmil Australia A$48 million variation to Pluto LNG Project - Site B contract.
 Extends total contract value for Pluto Site B contract to approximately $137M (first contract value approximately A$89M).
 Contract for civil finishing works including concrete, earthworks, roadwork and pavements.
 Latest contract lifts Decmil Group's order book to A$398M
 Work will commence immediately and be completed mid-2010.

WA-focussed civil engineering and construction company Decmil Group Limited (ASX:DCG) today announced its wholly-owned subsidiary, Decmil Australia Pty Ltd (Decmil), has been awarded by Woodside Energy a A$66 million contract variation for additional work on the Pluto LNG Project.

The variation extends the total contract value awarded to Decmil by Woodside for temporary facilities installation and miscellaneous works for Pluto Site B to approximately A$137 million.
Work - which includes concrete, earthworks, roadworks and pavements - will commence immediately and is due to be completed by mid-July 2010.

This latest contract lifts the Decmil Group's forward order book to A$398M, of which $218M is expected to be attributed to the 2010/11 financial year.

Decmil Group Limited Chief Executive Officer Mr Scott Criddle said "in total, Decmil Australia has been awarded over A$282 million in contracts for the Pluto LNG Project."

"Decmil has maintained solid working relationship with Woodside over the past 30-years and the Company's ability to continually win and deliver construction contracts on-budget and on-time is testament to the quality people, processes and systems it has in place," said Mr Criddle.

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