Shares in Brierty Limited (ASX:BYL) jumped yesterday on news the engineering company has won a $55 million contract from Rio Tinto Limited (ASX:RIO).
A Brierty joint venture will work to construct 221 residential housing lots for Rio in the Pilbara town of Wickham in Western Australia.
Stage 1 of the project is expected to occur over the next nine months and include bulk earthworks, services installation, road-works and landscaping.
The extra housing will support the expansion of Rio’s Cape Lambert port and rail facilities.
Shares in Brierty rose 12.5 per cent on Thursday, closing at $0.315.
Brierty reported a net profit of $4.2 million in the first half of the 2012 financial year.
