Monadelphous Group signs new rail contract for Rio Tinto

Company News

by Rachael Jones

Engineering company Monadelphous Group (ASX:MND) has been awarded a contract for the provision of services to Rio Tinto (ASX:RIO) on its privately-owned rail network in the Pilbara region of Western Australia.

The Company’s Maintenance and Industrial Services division will provide services across three packages of work under a three-year contract, with a further two three-year extension options.

The contract is valued at approximately $60 million.

Shares in Monadelphous Group (ASX:MND) closed 0.17 per cent higher at $17.43 yesterday.