Diversified industrial services provider SRG Global (ASX:SRG) has secured multiple contracts valued at about $65 million with Rio Tinto (ASX:RIO) and BHP (ASX:BHP).
Under a maintenance term contract in Queensland, the company will provide engineered access services at Yarwun in Gladstone for Rio Tinto. This work will start immediately and is expected to continue for a period of 5 years, including 2 single-year extension options.
The company will also provide specialist remediation works for Rio Tinto subsidiary Queensland Alumina (QAL) at the South Trees Island Wharf, which will also begin immediately and is expected to continue for a 3-year term.
Meanwhile, SRG will provide shutdown engineered access services under the Bugarrba Aboriginal Joint Venture (JV) term contract with BHP in the Pilbara region of Western Australia. The company says this contract will begin immediately and is expected to continue for a 5-year period, including 3 single-year options to extend.
Commenting on the contracts, SRG Global Managing Director David Macgeorge says: “We are pleased to win term contracts with tier-one clients BHP, Rio Tino, and QAL.
“With about $1.2 billion of new contract wins since July, many of them long-term, SRG Global is in a period of significant momentum”
These contract wins showcase our specialist skillset as a trusted partner to deliver maintenance services for our clients’ critical infrastructure in the marine, alumina, steel, and iron ore sectors.
With about $1.2 billion of new contract wins since July, many of them long-term, SRG Global is in a period of significant momentum. Importantly, the contract wins are being achieved across a diversity of sectors and geographies, positioning SRG Global well for long-term, sustainable growth.”
SRG Global is an ASX-listed and diversified industrial services provider that specialises in asset maintenance, mining services, engineering and construction, asset care, and engineered products.
The company says it brings an engineering mindset to deliver critical services for major industries across the entire asset lifecycle of ‘engineer, construct, and sustain’.
On 31 December 2022, SRG had $75.791 million in cash and cash equivalents on hand.
Images: SRG Global Ltd