Professional service provider to the resource and energy sectors WorleyParsons Ltd
(ASX:WOR) has been awarded a contract by United States Steel Corporation to form a Capital Projects Alliance to support four major integrated steel works and its U.S. tube making operations.
WorleyParsons says it expects the contract to generate revenues in excess of US$50 million.
The company says the alliance agreement covers engineering projects with an installed value of between US$100,000 and US$100 million.
Managing director of WorleyParsons for the U.S, Latin America and the Caribbean region, Robert Edwardes says the contract is consistent with the company’s strategy to continue to expand its involvement in the global steel industry.
The agreement will commence in November 2009 and have a nominal term of three years with mobilisation activities to support the contract’s launch commencing immediately.
WorleyParsons profits have been gradually rising over the past four years.
