20/01/2021 - 13:00

GenusPlus wins $23m in contracts

20/01/2021 - 13:00

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Contracts totalling $23 million in combined value have been awarded to Belmont-based GenusPlus Group, according to its latest market update.

GenusPlus wins $23m in contracts
GenusPlus provides essential power and telecommunications infrastructure services. Photo: GenusPlus Group

Contracts totalling $23 million in combined value have been awarded to Belmont-based GenusPlus Group, according to its latest market update.

GenusPlus provides essential power and telecommunications infrastructure services, and listed on the ASX in December last year.

The company’s overhead transmission and distribution subsidiary, Powerlines Plus (PLP), has been awarded a construction contract from a Rio Tinto subsidiary Hamersley Iron, an engineering, procurement and construction contract from Sino Iron, and two EPC contracts from Fortescue Metals Group.  

Hamersley Iron has placed an order with PLP for work on the Brockman Nammuldi Lens AB Powerline 3 & 4 Re-alignment project. Work is expected to be begin in March and be completed in June.

GenusPlus's Sino Iron project involves construction of a 33 kilovolt power line leading to the Eramurra Village accommodation facility, which the company expects to complete in October.

Sino Iron is a subsidiary of Hong Kong-listed company China International Trust and Investment Corporation (partly owned by the Chinese state).

Under the agreement with Fortescue, PLP will subcontract other GenusPlus subsidiaries through a two-package contract, to provide power and telecommunications infrastructure services at the Iron Bridge magnetite project in Pilbara.

Works on package two of the subcontract began in November last year, with package one due to begin in February. Both are expected to be completed by the end of September.

Meanwhile, GenusPlus subsidiary Diamond Underground Services has won a Western Power contract, as a part of the State Underground Power Program in Collier, in the City of South Perth.

That program is a state government initiative to replace overhead powerlines with underground power infrastructure.

GenusPlus managing director David Riches said the work was a positive step for the company.

“I am pleased that the company continues to build on its relationships with our long-term customers,” he said. 

GenusPlus was trading 0.9 per cent lower at 2:57pm AEDT, to $1.06 per share.

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