Monadelphous Group signs new contract with Rio

Company News

by Rachael Jones

Engineering company Monadelphous Group (ASX:MND) today announced it has been awarded a major construction contract with Rio Tinto (ASX:RIO).

This is in association with the West Angelas Deposits C and D Project, located in the Pilbara region of Western Australia.

The contract is expected to be over $100 million and includes the supply and installation of structural, mechanical, piping and electrical and instrumentation works associated with the construction of new iron ore facilities, as well as modifications to existing plant.

The work will commence immediately and is expected to be completed in April 2021.

Shares in Monadelphous Group (ASX:MND) are trading 1.18 per cent lower at $18.38.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.