03/09/2012 - 14:41

Forge subsidiary CTEC wins Rio power deal

03/09/2012 - 14:41

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Forge Group has won a $280 million contract to build a gas turbine power station for Rio Tinto at the Cape Lambert port in the Pilbara.

Forge managing director David Simpson said the engineering, procurement and construction works would be carried out by subsidiary CTEC.

Rio Tinto is spending $US570 million on power upgrades at Cape Lambert.

“In November 2011, CTEC was awarded the $150 million EPC contract for the open cycle gas turbine power station project in the east Pilbara,” Mr Simpson said.

“This notice of award further reinforces CTEC’s capacity in the region.”

Forge said construction would kick off in March next year, with the project to be complete early in 2015.

At close of trade today, Forge Group stocks were up 1.7 per cent, trading at $4.17.

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