Southern Cross scores Rio Tinto contracts

Company News

Rio Tinto Limited (ASX:RIO) has awarded Southern Cross Electrical Engineer Limited (ASX:SXE) two contracts worth more than $10 million. 
Under the contracts Southern Cross will perform replacement and refurbishment of electrical equipment on Rio Tinto’s Electrical Infrastructure Replacement program in Western Australia. 
The work will be undertaken at Cape Lambert and East Intercourse Island and follows the company’s completion of phase one of these works. 
Southern Cross says it will start work immediately and expects to complete the contracts over the following year. 

The announcement comes after Southern Cross scored a $40 million contract modification from Rio Tinto last month for work on its Cape Lambert Port B Project. 

Southern Cross Electrical Engineer reported a net profit of $6.2 million in the first half of the 2014 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.