Monadelphous wins $235m Rio contract

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Engineering firm Monadelphous Group has won a $235 million construction contract for work on an iron ore port being built for Rio Tinto.

Monadelphous said the contract is for work on Rio’s Cape Lambert Port B Project in Western Australia and involved structural mechanical and piping works for the supply and installation of a screenhouse, two car dumpers and associated conveyor and transfer stations.

Work is scheduled for completion in the final three months of 2014.

The company said the contract will support solid sales revenue momentum into the new financial year.

Shares in Monadelphous have climbed 43 cents, or more than two per cent, to $19.64 following the announcement.