THE BOURSE WHISPERER: Engineering, property services and asset management and maintenance provider UGL Limited has been awarded approximately $370 million in new projects across Australia.
The company said that more than $270 million of the new contracts are focused within the resources sector.
UGL has been given the task of constructing the new Solomon mine power station for Fortescue Metals Group in Western Australia as well as the provision of rail signalling and communications systems for the Solomon Rail Spur.
The company has also signed a two year contract with international heavyweight Rio Tinto for the provision of maintenance services at the Hail Creek mine in Queensland.
Still with the big players UGL has signed a new three year contract for the provision of maintenance services at BHP Billiton Mitsubishi Alliance (BMA) coal operations’ Gregory Crinum Mine in Queensland.
UGL will be upgrading the Sydney West to Holroyd Transmission Line for TransGrid in New South Wales while carrying out a number of new power systems and power transmission projects across Queensland.
“Securing these significant new wins provides further support to the continued solid performance of our engineering businesses,” UGL managing director and CEO Richard Leupen said in the company’s announcement to the Australian Securities Exchange.
“These wins reflect the strength of our client relationships across a diversified base of blue-chip customers and are demonstrative of our ability to convert the recent record levels of tendering activity across a number of our core markets.
“A significant pipeline of opportunities remains visible supported by substantial levels of private investment and government spend.
“We anticipate ongoing success in converting a number of these opportunities as they are awarded.”