Join our daily newsletter At The Bell to receive exclusive market insights
SRG Global’ (ASX: SRG) has been awarded multiple contracts with existing clients in the renewable energy, resources and energy sectors across Australia.
The mining engineering company said the value of the new works is $125m, which includes a six-year term contract for asset integrity and rope access services with Rio Tinto at their Yarwun Refinery in Gladstone, Queensland, commencing in June 2024.
SRG has secured an asset integrity services contract extension across Origin Energy’s upstream infrastructure network in Queensland. The contract is expected to be completed in 2025.
At the Turnut Power Station SRG will be doing structural design work to replace the existing roof support, walkway and water shedding system for Snowy Hydro. The contract is expected to be completed within 18 months.
SRG has started to design and construct concrete tanks for BHP Iron Ore in Newman, Western Australia and is expected to complete the contract within 24 months.
David Macgeorge, SRG Global Managing Director commented: “We are pleased to secure these diverse range of contracts across Australia through established relationships with Tier 1 clients. I am particularly pleased that the combined offering of our up-front capabilities of our Asset Care business combined with the back-end execution of our Asset Maintenance team continues to gain traction with our clients.
“SRG Global continues to go from strength to strength, underpinned by our strong growth profile and recurring earnings base approaching 80% of our overall earnings which is in line with our long-term strategy.”
SRG was trading at 87 cents.
