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Southern Cross Electrical Engineering’s (ASX:SXE) subsidiary wins $20m in contracts

Industrial
ASX:SXE      MCAP $418.8M
03 November 2021 13:45 (AEDT)
Southern Cross Electrical Engineering (ASX:SXE) - Managing Director, Graeme Dunn

Source: Graeme Dunn/LinkedIn

Southern Cross Electrical Engineering’s (SXE) SCEE Electrical business has been awarded a range of resources and infrastructure contracts totalling $20 million.

In the Pilbara region of Western Australia, SCEE Electrical has been awarded a contract for the supply of civil, structural and electrical works from Hamersley Iron, a Rio Tinto (RIO) company.

This contract relates to the installation of the balance of plant for the Tom Price Battery Energy Storage for Spinning Reserve Facility.

The aim of this facility is to decarbonise the power generation portfolio and save fuel costs.

SCEE Electrical will begin work immediately and is scheduled to be completed in July next year.

The second contract has been awarded by Southern Ports Authority in WA and involves the upgrade of the power supply package at the Esperance Port Power Connection Project.

Work is beginning now and is expected to finish in February 2022.

The final contract has been granted by China Petroleum Engineering & Construction and Nacap Australia for work in the Surat gas fields in Queensland.

Work involves the supply, installation and inspection of hazardous area equipment and accessories between the well heads, well head skids, control panels and generators.

Work is scheduled to begin later in the year and wrap up in Q2 2022.

Managing Director Graeme Dunn commented on the contracts.

“As the global energy sector transitions into cleaner fossil fuels and on into renewable energy sources and storage, the SCEE Group is well positioned to support this conversion to take place,” Mr Dunn said.

Shares in Southern Cross were up 5.43 per cent and were trading at 68 cents at 1:41 pm AEDT.

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