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.

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.