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- Construction engineering firm SRG Global (SRG) has won two new term contracts, worth approximately $45 million combined
- Under the first contract, SRG will provide engineered access solutions at GFG Liberty OneSteel’s steelworks operations over five years
- Under the second, SRG will supply specialist production drill and blast services and explosives at a Western Australian gold mine
- In addition to diversifying SRG’s customer base, the contracts also add to the company’s recurring annuity earnings
- SRG Global is up 1.02 per cent and trading at 50 cents per share
Construction engineering firm SRG Global (SRG) has won two new term contracts, worth approximately $45 million combined.
The first of the company’s two new contracts has a five-year term, consisting of an initial three-year term and the option for an additional two years. Under this contract, SRG Global will provide engineered access solutions to GFG Liberty OneSteel’s steelworks operations in Whyalla, South Australia.
The second of the two new contract is with Pit N Portal Mining Services and has an initial term of 12 months. Under the contract, SRG Global will provide services including specialist production drill and blast services, as well as explosives supply.
These services will be supplied to RED 5 Limited’s Great Western gold mine, which is located in Western Australia. The company will be expected to start work on the Pit N Port contract immediately.
SRG Global’s Managing Director, David Macgeorge, said that the company is very pleased to have secured two term contracts.
“Importantly, the GFG Liberty OneSteel contract is with a repeat customer, providing new services in addition to our existing refractory services term contract,” he said.
“The Pit N Portal contract was specifically targeted as it builds upon our Mining Services portfolio of high quality growth commodities whilst diversifying SRG Global’s customer base,” he added.
In addition to diversifying SRG Global’s customer base, the two new contracts will also add to the company’s recurring annuity earnings.
SRG Global is up 1.02 per cent, trading at 50 cents per share at 1:52 pm AEDT.
