Monadelphous Group Limited (ASX:MND) has announced it has entered into a joint venture with ASX listed engineering and project management firm Lycopodium Limited.
Named MONDIUM, the venture will see the two companies combine to deliver engineering, procurement and construction projects in the minerals processing sector.
MONDIUM will be led by Bob Osmetti, a founding partner of Lycopodium.
Monadelphous MD Rob Velletri has stated the new venture will look to deliver on domestic projects and in selected international markets.
Monadelphous Group Limited posted a net profit of $66.9 million at 30 June 2016.
