Forge subsidary wins $102m of work

Engineering and construction consultant Forge Group has announced that its subsidiary, Cimeco, has won two contracts totalling around $102 million.

Cimeco will provide mine buildings and support facilities for Rio Tinto's Hope Downs 4 iron ore expansion project in a joint venture with its indigenous partner, PLWA Group.

And it will also perform installation work for MCC mining on the Sino Iron mine at Cape Preston.

Forge said in a statement to the ASX today that $75 million of the contract revenue was expected to fall into financial year 2012, with the remainder in FY2013.

At 10:06AM (WST) Forge Group's stock had gained 3 cents, to trade at $5.43.