SRG Global (ASX:SRG) lands contracts worth $80 million – The Market Herald

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  • SRG Global (SRG) secures new contracts with South32, Fremantle Ports and BCI Minerals, valued at approximately $80 million
  • The South32 and Fremantle Ports contracts are for two years and work is expected to be completed in 2024 and 2025, respectively.
  • The BCI Minerals contract will allow the company to continue to provide earthworks and civil services as well as other civil infrastructure
  • All awarded contracts will commence immediately SRG believes they will strengthen its project portfolio and provide value added services to clients
  • Shares of SRG rose 4.07% at market close, ending the day at 64 cents

SRG Global (SRG) has secured several major new contracts with existing top tier clients South32, Fremantle Ports and BCI Minerals, worth approximately $80 million.

South32’s fixed-term contract is for two years and is an extension of the existing contract for
works at Worsley Alumina’s bauxite and alumina refinery in Western Australia.

Under the extended contracts, the company will provide civil services for the continuous improvement of BRDA embankments as well as other civil and road maintenance services.

The contract will start immediately and is now expected to end in 2024.

The Fremantle Ports contract will run for two years with an optional one-year extension.

The scope of work covers the design, supply and installation of the hybrid cathodic protection system and concrete maintenance repairs at Kwinana Bulk Pier in WA.

Like the South32 term, the contract will start immediately and is expected to end by 2025.

Finally, the BCI Minerals contract will see the company continue to provide earthworks and civil services for the construction of evaporation pond embankment walls as well as other civil infrastructure for pipeline corridors and Mardie Project drainage. Salt and Potash in WA.

As with other contracts, the BCI contract extension applies to existing work that will begin immediately and end this year.

Managing Director David Macgeorge said the contracts strengthen the company’s marine remediation project portfolio and provide valuable engineering services to customers from project inspection.

Shares of SRG were up 4.07% at market close, ending the day at 64 cents.

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