OTOC announces $32m contract success

Mining services provider OTOC has announced a $32 million contract win for Rio Tinto in the Pilbara.

Under the deal, OTOC will install accommodation units at Rio’s Brockman 4 operations village.

Work will commence immediately.

“The company is pleased with the award of this contract by Rio Tinto as this contract combined with a solid order book further strengthens the company’s strong competitive position going into 2013,” chief executive Adam Lamond said.

 A formal contract is expected to be signed by November 5.

At close of trade today, OTOC shares were up 6.7 per cent, at 8 cents.