Monadelphous wins $90m Rio Tinto contract

Shares in Applecross-based Monadelphous Group Ltd have closed 13 cents higher today on the back of news the engineering services provider has been awarded a $90 million construction contract by Rio Tinto Iron Ore.

The contract is for structural, mechanical and piping works at the stockyard and car dumper facilities at the Dampier Port Upgrade, Phase B.

The works are expected to be completed in September 2007.

Monadelphous has secured a number of recent supporting contracts to the iron ore industry in Western Australia.

The company's engineering construction division was awarded a structural and mechanical contract at Rio Tinto's Yandi mine in December 2005, which it is due to be completed in late 2006.