GR Engineering wins $150m contract

A GR Engineering subsidiary has secured a five-year contract valued at $150 million for work on the Moranbah Gas Plant in Queensland.

GR Engineering’s wholly owned subsidiary, Upstream Production Solutions, will be awarded $30 million per annum contract from Queensland Pacific Metals, subject to a successful acquisition.

Ownership of the Moranbah Gas Plant (MGP) is currently in the process of being transferred from Arrow Energy to Queensland Pacific Metals, which is expected to be completed in early 2024.

Upstream Production Solutions will provide operations and maintenance services on the MGP, with the possibility for a further five-year extension on the contract.

In a statement, Upstream Production Solutions chief executive Cameron Wills said the company looked forward to working on a project that sought to reduce its emissions through harvesting waste gas.

“This approach aligns with the growing global focus on reducing greenhouse gas emissions and promoting sustainable energy practices,” he said.

Shares in GR Engineering were up 0.48 per cent to trade at $2.10 at market close.