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FMG chases ambulances

Andrew Forrest’s Fortescue Metals Group has a mammoth budget for its Pilbara iron ore and infrastructure project, and the project team is leaving no stone unturned to make sure they stick to the budget. The latest monthly project report sent to the ASX stated that savings have been achieved “by the judicious search and location of equipment and plant from selected second-hand markets”. The company wasn’t talking about big-ticket items like excavators or dump trucks. It was, however, pleased to report that a fire truck and ambulance had been purchased “considerably below the budgeted figures”. It also received a tender for a 150-tonne low-loader that was $1.1 million below budget.

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