Macmahon Holdings Ltd’s
(ASX:MAH) experience in remote railway development has helped it score an $86 million contract to develop the Karara Iron Ore project in Western Australia.
The contract has been issued by Karara Mining – a Gindalbie Metals and Ansteel joint venture company.
It involves rail earthworks and track laying for an 85 kilometre line that services the site and connects it to Tilley Siding, near Morawa in the mid-west region of WA.
Gindalbie says that Macmahon won the contact because of its strong project knowledge and its extensive experience in remote iron ore railways, having worked previously for Rio Tinto and BHP Billiton in the Pilbara region.
Macmahon’s 2009 net profit after tax was $17 million, which was lower than the two financial years before.
