New Contract Wins
Stock | EVZ Ltd (EVZ.ASX) |
---|---|
Release Time | 7 Jan 2025, 8:15 a.m. |
Price Sensitive | Yes |
EVZ Ltd Wins New Contracts Worth $28.5M
- Awarded two contracts in Energy & Resources sector through subsidiary Brockman
- Includes Hastings Fuel Terminal Expansion in VIC and Eneabba Rare Earths Refinery in WA
- Contracts to contribute to revenue and earnings in FY25 and FY26
EVZ Limited, a leading Australian provider of technical services in the Energy & Resources and Building Products sectors, has announced that it has been awarded two new contracts in the Energy & Resources sector through its wholly owned subsidiary Brockman. The total value of these contracts is approximately $28.5M. The new contract awards include the Hastings Fuel Terminal Expansion in Victoria and the Eneabba Rare Earths Refinery in Western Australia. For the Hastings Fuel Terminal Expansion, Brockman has been awarded the contract for the engineering and construction of the next stage of the project, which includes the addition of two new bulk fuel storage tanks, civil groundworks, and associated balance of plant works. The works are scheduled to commence immediately on the design and fabrication of the tanks, with mobilization to the site in the first quarter of 2025 and anticipated completion in the third quarter of 2026. For the Eneabba Rare Earths Refinery, Brockman Engineering, in conjunction with Tank Industries, has been awarded a package of five bulk storage tanks that will form part of the new refinery project. The new refinery will be Australia's first fully integrated rare earths refinery, a key component in Australia's Critical Minerals Strategy. The works on the storage tanks are also scheduled to commence immediately, with mobilization to the site in the third quarter of 2025 and anticipated completion in the first half of 2026. EVZ Limited's Chief Executive Officer, Scott Farthing, stated that the company is very pleased with the ongoing success of its businesses in the Energy & Resources sectors, as they expand their presence and grow their backlog for the upcoming periods. These project successes place the company's businesses amongst the top innovative providers in their industry and provide a firm base from which to grow revenues and profits as the company's market sector-focused strategic plan evolves.
These projects will contribute to EVZ Limited's revenue and earnings in FY25 and FY26 as part of the company's diversified project portfolio.