Engineering services and project management group Ausenco Ltd
(ASX:AAX) has been awarded a $53 million contract to manage underground, surface infrastructure construction and coal preparation plant upgrade work for the Kestrel Joint Venture.
Rio Tinto holds an 80% interest in the Kestrel Joint Venture, with the remaining 20% held by Mitsui.
The work to be performed by Ausenco is part of the $1.3 billion Kestrel Mine Extension, located near Emerald in Central Queensland.
Separately the company also announced that it expects to see growth in the second half of 2010 and into 2011 as a result of further improved business conditions and the implementation of sustainable growth initiatives.
However, CEO Zimi Meka says the mix of retaining required capacity for anticipated project awards, higher levels of tender related costs, and ongoing office consolidation costs would negatively impact the company’s first half results.
Mr Meka says Ausenco’s pipeline of opportunities remains at record levels, with the scope and size of the projects the company is participating in, increasing significantly.
Ausenco recorded a profit for the 2009 calendar year.
