Downer EDI Limited
(ASX:DOW) has scored two letters of award from Adani Mining which could see it work on the proposed Carmichael Coal Mine in Central Queensland.
The engineering company anticipates the first letter of award is valued at $420 million, to be delivered as part of a JV, and the second contract will be valued at about $260 million.
Subject to executing binding contracts Downer EDI will work on the Coal Handling and Preparation Plant at the mine.
One of the conditions of the contract is expected to include Adani obtaining approval and project finance to develop the proposed mine.
Downer EDI reported a net profit of $94.7 million in the first half of the 2015 financial year.
