Downer nails lucrative contracts

DOWNER EDI has clinched more than $A750 million worth of new contracts since November including a $77 million blasting services contract with Yancoal’s Minerva, Yarrabee, Moolarben and Ashton mines.
Downer nails lucrative contracts Downer nails lucrative contracts Downer nails lucrative contracts Downer nails lucrative contracts Downer nails lucrative contracts

 

Blair Price

The contract for these mines in Queensland and New South Wales, formerly held by Felix Resources, covers three years.

Downer also secured more than $400 million worth of contracts to supply standard and narrow gauge locomotives for coal haulage in NSW and Queensland, along with locomotives for hauling iron ore in the Pilbara region of Western Australia.

The company’s engineering division chalked up $120 million of new contracts while the works division scored more than $160 million worth of contracts for clients in Australia, New Zealand and the Pacific Islands.

“These wins reinforce Downer’s position as a leading provider of rail manufacturing; mechanical, electrical and instrumentation contracting; road maintenance and construction; transmission lines; and consulting services across the Asia Pacific region,” Downer managing director and chief executive Geoff Knox said.

Downer said it continued to maintain a work-in-hand balance in excess of $16 billion.

Shares in Downer are up 7c this morning to $8.17.

topics

loader