Share Market News : Civmec JV awarded Gruyere Gold Project in Australia

Amec Foster Wheeler Civmec JV (ACJV), a 50:50 unincorporated joint wander between Civmec Construction and Engineering and Amec Foster Wheeler Australia, has won a building, acquisition, and development (EPC) contract for Australia’s Gruyere Gold Project for an undisclosed entirety.

Civmec Construction and Engineering is the entirely possessed auxiliary of Mainboard-recorded Civmec.

Counting the half share of this venture, the gathering’s request book remains at $526 million.

The venture is situated inside the Yamarna greenstone belt, around 200 kilometers east of Laverton in Western Australia.

In a Monday secondary selling declaration, Civmec says the agreement’s extent of work incorporates the point by point outline, acquisition and establishment of the procedure plant, organization office, workshop and stockroom – and in addition the principle water pipelines and powerlines to the borefield.

It includes that more than 300 staff will be utilized on the venture at its top, with down to earth fruition booked for December 2018.

Designing works have initiated, and on location work is planned to begin in July 2017.

As per Patrick Tallon, CEO of Civmec, the Gruyere Gold Project is “one of the biggest and most prestigious ventures in Western Australia”.

“Civmec is devoted to working intimately with the neighborhood group on the venture, we have built up a complete nearby and indigenous engagement arrange. With arrangements to self-play out the steel creation at our Henderson office, this venture underlines Civmec as Australia’s biggest internationally focused steel fabricator,” he includes.

Shares of Civmec shut 1 penny bring down at 64 pennies on Monday.

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