The company’s 2008 financial report also revealed EBITDA rose 83% to $86.3 million.

In June last year, Ausenco formed a 50/50 joint venture with Taggart Global USA to pursue coal preparation plant engineering opportunities worldwide, with Ausenco chief executive officer Zimi Meka saying significant progress had been made on a number of new coal project opportunities.

“Despite the softening of the market, we will progress in our efforts to convert in excess of $US24.5 billion in study and FEED engineering opportunities to EPCM contracts and we have seen evidence that some of the previously cancelled or deferred EPCM contracts will proceed in the short to medium term,” he said.

Ausenco also declared a final fully franked dividend of 13.5c, taking the total to 31.75c for 2008.

Carborough’s 5 million tonne per annum capacity wash plant is expected to start up with the new longwall mine in the third quarter of this year.

Carborough Downs is a joint venture of Vale (80%), Tata Steel, Nippon Steel and Posco (all 5%), and JFE Steel and JFE Shoji (2.5% each).

Ausenco shares traded up 10c this morning to $2.95.