Engineering and construction company Clough Ltd
(ASX:CLO) has announced that Kellogg Joint Venture Group, of which it is a part of, has been awarded a $2.7 billion contract by Chevron Australia.
The Kellogg Joint Venture is a partnership between Clough Projects Australia, KBR E&C Australia, JGC Corporation and Hatch Associates.
The company is to engineer, procure and construction manage the liquefied natural gas downstream and logistics portion of the multi-billion dollar Chevron operated Gorgan LNG Project.
The Australian Financial Review says Clough, who is a 20 per cent partner in the Kellogg Joint Venture, is expected to receive around $540 million from its share in the revenue generated by the contract.
CEO John Smith says the company is delighted to be playing a major role, both as partner in the Kellogg Joint Venture Group and in delivering the Gorgan LNG facilities.
The Gorgan Project plans to develop the Greater Gorgan gas fields, located between 130 kilometres and 200 kilometres off the north-west coast of Western Australia.
Clough pulled itself out of the red in 2008 to post a profit of $66.6 million.
