Monadelphous Group secures $165M Rio Tinto contract

·       Kerman Contracting secured a design and construction contract valued at approximately $165 million for non-process infrastructure facilities with Rio Tinto.

·       Following the contract announcement, the Monadelphous Group share price closed down at $28.49.

·       The company stated that the award builds on previous work and strengthens its forward order book.

Monadelphous Group (ASX:MND) announced that its non-process infrastructure business, Kerman Contracting, secured a design and construction contract valued at approximately $165 million with Rio Tinto (ASX:RIO).

The agreement follows a multidisciplinary construction contract secured by Monadelphous at the Brockman Syncline 1 project late last year.

“Kerman’s award of this work builds on the multidisciplinary construction contract that Monadelphous secured at BS1 late last year,” said Monadelphous Managing Director Zoran Bebic.

The project involves non-process infrastructure facilities, including a heavy mine equipment workshop, washdown, tyre change, and fuel storage facilities.

Work on the project will commence in 2026 and is expected to be completed in 2028.

Following the announcement, the Monadelphous Group share price was down at $28.49.

Monadelphous Group provides engineering services to the resources, energy, and infrastructure sectors across Australia.

The company maintains an active portfolio of construction and maintenance contracts with major resource houses in the Pilbara region.