24/02/2014 - 09:53

Monadelphous wins $680m Ichthys works

24/02/2014 - 09:53

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Engineering contractor Monadelphous Group has been awarded a $680 million construction contract at Inpex's Ichthys liquefied natural gas project.

Monadelphous wins $680m Ichthys works
An artist's impression of the Ichthys processing facility near Darwin.

Engineering contractor Monadelphous Group has been awarded a $680 million construction contract at Inpex's Ichthys liquefied natural gas project.

Monadelphous will undertake piping, mechanical and structural steel works at the project's onshore supply base in Darwin.

The agreement is with lead contractor JKC Australia LNG, a joint venture between Japan-based JGC Corporation and Chiyoda Corporation, and global engineering firm KBR.

"We are very pleased to be awarded such a significant contract and to be participating on one of Australia's world-class gas projects," Monadelphous managing director Rob Velletri said.

"We look forward to working together with JKC to successfully deliver on this important contract."

Monadelphous is the latest Perth-based contractor to secure work at the $US34 billion Ichthys project, with concrete construction group Whittens and staff and services firm Programmed Maintenance Services also winning contracts at the project in recent months.

The project will have an annual output of 8.4 million tonnes per annum from gas fields located in the Browse Basin off the north-west coast of Western Australia.

Monadelphous last week provided a rare positive half-year result in the highly competitive mining services space, posting a 10 per cent increase in net profit to $87.1 million.

The company's shares were up $1.12 at $17.70 at 9:49am WST.

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