SXE with RIO awarded $29M Yandi contract

Company News

Southern Cross Electrical Engineer Limited (ASX:SXE) says has been awarded a contract worth more than $29 million with Rio Tinto Limited (ASX:RIO).
 
Under the contract Southern Cross Electrical Engineer’s overhead powerline construction business, K.L. Johnson & Co Ltd, will work on the $1.2 billion Yandi Sustaining Project.
 
Work for the second part of the Yandi Sustaining Project is expected to be finished in early 2014. 
 
The Yandi Sustaining Project is intended to extend the life of the Yandi Mine and is the site of The Gumala Aboriginal Corporation’s Land Use Agreement with Rio Tinto.
 
Rio Tinto recorded a net profit of $6 billion in the first half of its 2012 financial year. 

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.