17/12/2021 - 10:54

Fortescue contracts GenusPlus for $30m

17/12/2021 - 10:54

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GenusPlus Group has secured more work on Fortescue's $US250 million transmission project, having been selected to build a 98-kilometre powerline for the iron ore miner.

Fortescue contracts GenusPlus for $30m
GenusPlus will build a 98-kilometre powerline for Fortescue. Photo: GenusPlus Group

GenusPlus Group has secured more work on Fortescue Metals Group's $US250 million transmission project, having been selected to build a 98-kilometre powerline for the iron ore miner.

The contracts are worth a combined $30 million and are for stage three of Fortescue’s Pilbara Transmission Project, which aims to connect the company's mining operations in the region through 220-kilovolt powerlines.

Work will start immediately and require about 100 direct staff, GenusPlus said.

The ASX-listed contractor is also finishing work on stage one of the project, with its Powerlines Plus subsidiary building 223km of circuit powerlines to connect Fortescue’s Solomon, Cloudbreak, Eliwana and North Star mines.

GenusPlus has also worked on Fortescue’s imminent $3.5 billion Iron Bridge magnetite mine near Port Hedland, having provided power and telecommunications infrastructure.

“It is a compliment to the team and recognition for GenusPlus that Fortescue has awarded our business with further contracts for the next stage of the Pilbara Transmission Project,” GenusPlus managing director David Riches said of the latest contract.

The cost of equipment needed for the task is about $6 million, which Mr Riches said would be funded through existing debt facilities.

Shares in GenusPlus were down 4.3 per cent at 12:38pm AEDT to trade at $1.22.

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