Monadelphous updates on new contracts

24/02/2017 10:05:00

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Monadelphous Group Limited (ASX:MND) has announced that it has secured new contracts and additional works for customers in the resources, energy and infrastructure markets.

The contracts have a combined value of around $120 million and include two new contracts with subsidiaries of Fortescue Metals Group (ASX:FMG).

Additional works involve an upgrade to the Water Treatment Plant and distribution system at BHP Billiton’s (ASX:BHP) Iron Ore Mining Area C operation in the north-west of Western Australia.

The mining contractor says through these contracts it is continuing to build on key customer relationships, as well as expanding its services.

Monadelphous reported a net profit of $28.57 million for the first half of 2017.