Monadelphous secures $70m in construction contracts

Shares in Applecross-based engineering company Monadelphous Group Ltd were steady on news the company had secured construction contracts worth $70 million in the resources and infrastructure sectors.

The company closed down four cents at $9.35, a fall of 0.43 per cent.

The full text of a company announcement is pasted below

Monadelphous has continued to secure major contracts in the iron ore market with the award of a structural and mechanical works contract for the refurbishment of a rail car dumper associated with the BHP Billiton Iron Ore Rapid Growth Projects at Port Hedland in Western Australia. The award of this contract extends the company's successful and long standing relationship with BHP Billiton Iron Ore and follows on from $300 million worth of contracts currently underway associated with Rapid Growth Project 3 at the Nelson Point and Finucane Island port facilities and Mining Area C.

The company has also secured a significant package of structural, mechanical and piping work at BHP Billiton's Ravensthorpe Nickel Project in Western Australia. The work follows on from the successful completion of the construction of the Ravensthorpe Nickel Project sulphuric acid plant for Aker Kvaerner Australia.

Monadelphous achieved a major strategic milestone in its push to expand further into the infrastructure sector with its first major win in the water industry. The company has won a $7 million contract with the Water Corporation in Western Australia for the design and construction of the Wyndham Water Treatment Plant. The plant will improve the supply of potable water to the town of Wyndham which is located in the Kimberley region of Western Australia.

Monadelphous Group Ltd is currently scheduled to issue its 2006-07 half year financial results on 20th February 2007.