Monadelphous wins $170m Pluto contract

Engineering company Monadelphous Group has secured a $170 million contract for major works on Woodside Petroleum's $12 billion Pluto liquefied natural gas project.

The announcement is below:

Leading Australian engineering company Monadelphous Group Limited (ASX: MND) ("Monadelphous" or "the company") today announced it has secured a $170 million contract with Woodside for major works associated with the $12 billion Pluto Liquefied Natural Gas (LNG) Project in the north west of Western Australia.

The contract includes structural, mechanical and piping works for the installation, erection and precommissioning of the plant Offsite Utilities and Acid Gas Removal Unit (AGRU). Project works will begin immediately with completion scheduled for the second quarter of calendar 2010.

Commenting on the new contract Managing Director Rob Velletri said "the work awarded on Pluto is a landmark win for Monadelphous. We are very pleased Woodside has chosen us as a key partner on this prestigious project. This win strengthens our position in the oil and gas sector and will enable us to capitalise on the pipeline of LNG projects ahead."

"Together with other projects announced since October 2008, this brings the total new construction contracts awarded to Monadelphous to approximately $500 million and further strengthens the company's forward workload for the 2009 / 2010 financial year."