AUSENCO SCORES $45M PROJECT PIPELINE

Written on the 7 January 2016

AUSENCO SCORES $45M PROJECT PIPELINE

AUSENCO (ASX:AAX) is gearing up for a strong start to the year, with a raft of offshore opportunities expected to deliver $45 million in forward revenue.

The engineering and construction firm is finalising a number of new contracts within its APAC/Africa operations.

Ausenco CEO Zimi Meka says the pipeline of projects demonstrates the group's growing reputation in the region.

"By comparison, these new 2016 awards represent 80 per cent of the revenues booked by APAC/Africa to those in 2015," Meka says.

"In addition, Kramer Ausenco has seen some strong growth in PNG contributing to a strong work on hand position.

"Combined with considerable interest in our ongoing asset optimisation and value engineering solutions, these wins characterise a very positive platform of work for 2016."

Ausenco will commence work on upgrading a NSW coal facility later this month, including design, supply, construction and commissioning a new flotation module.

The firm has also been awarded a $15 million three-year maintenance services contract at the Isaac Plains coal mine in the Bowen Basin.

Meka says the team has operated the facility for the past five years and looks forward to working with Golding Contractors, who secured the contact by new owners Stanmore Coal.

Ausenco is also completing works at Vale's Moatize coal facility in Mozambique.


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