Key points
- Awarded 7-year maintenance and construction contract with Shell QGC in Gladstone
- Zenviron joint venture secures 350MW battery storage contract with EnergyAustralia
- Awarded structural remediation works contract with Rio Tinto in Pilbara
Full summary
Engineering company Monadelphous Group Limited (ASX: MND) has announced the award of new construction and maintenance contracts in the resources, energy and infrastructure sectors valued at approximately $400 million. The company has secured a seven-year maintenance and construction services contract, with a three-year extension option, at Shell QGC's Curtis Island operations in Gladstone, Queensland. The contract adds brownfields project construction to the company's existing scope of midstream maintenance and turnaround services. Zenviron, Monadelphous' renewable energy joint venture with ZEM Energy, has secured a contract with EnergyAustralia for the delivery of the 350 MW Wooreen Battery Energy Storage System in the Latrobe Valley, Victoria. In the iron ore sector, Monadelphous has been awarded a contract for structural remediation works at a number of Rio Tinto's mine sites in the Pilbara region of Western Australia. Additionally, the company's Victorian-based specialist electrical, mechanical and civil services business, BMC, has secured a further outage contract at the Loy Yang B power station in Traralgon. Monadelphous has also been awarded a contract to complete compressor station upgrade works at Jemena's Eastern Gas Pipeline reversal project.
Guidance
Since the beginning of the financial year, Monadelphous has secured over $2 billion in new contracts and contract extensions across a broad range of commodity markets and the renewable energy sector.
Outlook
Monadelphous' strong and diverse order book highlights the company's capabilities in providing construction, maintenance and industrial services to the resources, energy and infrastructure sectors.