Macmahon Holdings Limited (ASX:MAH) has finalised a $330 million contract with Fortescue Metals Group Limited (ASX:FMG) and started construction at the iron ore miner’s Solomon Rail project.
Macmahon says construction on Fortescue’s Solomon Rail Spur in the Pilbara region of Western Australia is one of its biggest single construction contracts.
Since being announced as the preferred contractor in August Macmahon has undertaken preliminary works on the construction of the 81 kilometre rail formation.
The project is expected to be completed in late 2012.
In the 2011 financial year Macmahon Holdings narrowed its net loss to $2.7 million.
