WKS unknown

Ann: GENERAL: WKS: Downer receives Letters of Award from Adani Mining Pty Ltd

  1. lightbulb Created with Sketch. 2
    • Release Date: 19/12/14 13:00
    • Summary: GENERAL: WKS: Downer receives Letters of Award from Adani Mining Pty Ltd
    • Price Sensitive: No
    • Download Document  3.72KB
    					WKS
    19/12/2014 13:00
    GENERAL
    PRICE SENSITIVE
    REL: 1300 HRS Works Finance (NZ) Limited
    
    GENERAL: WKS: Downer receives Letters of Award from Adani Mining Pty Ltd
    
    Media/ASX and NZX Release
    19 December 2014
    DOWNER RECEIVES LETTERS OF AWARD FOR
    CARMICHAEL COAL MINE CONTRACTS
    Downer EDI Limited (Downer) today announced it had received two Letters of
    Award from Adani Mining Pty Ltd (Adani) advising of its intention to enter
    into contracts for the provision of mining services and the construction of
    mine infrastructure at the Carmichael Coal Mine in the Galilee Basin in
    Central Queensland. The contracts are expected to have a combined value in
    excess of $2.0 billion over seven years.
    
    Under the five-year mining services contract, with two additional one-year
    options, Downer will be responsible for:
    
    - statutory management and mine operations;
    - drilling and blasting; and
    - load and haul of waste and coal.
    
    Under the mine infrastructure contract, Downer will be responsible for the
    engineering, procurement and construction of on-site infrastructure and
    preparatory civil works.
    
    The capital for the major fleet for the mining services contract will be
    provided by Adani.
    
    Both Letters of Award are subject to the parties executing binding contracts
    which would be followed by pre-production and planning in early 2015 with
    mine infrastructure construction commencing in the fourth quarter of 2015.
    First mining is scheduled for the second quarter of 2016 and first coal in
    2017.
    
    Adani Australia Country Head and CEO Jeyakumar Janakaraj welcomed today's
    announcement, the latest milestone in Adani's prompt transition from the
    approvals to the build phase of the company's mine, rail and port projects.
    
    "The Carmichael mine lies at the heart of these projects which will deliver
    vital export opportunities for Queensland, 10,000 jobs, $22 billion in taxes
    and royalties to be invested right back into frontline services across our
    State, and crucial work opportunities for small and medium sized businesses.
    This partnership with Downer reflects the clear confidence that tier one
    firms have in Adani's projects and we welcome the chance to work with such a
    respected, proven partner on this critically important task," Mr. Janakaraj
    said.
    
    "In selecting Downer as the mining services contractor, we are confident that
    not only we are well placed to meet our longstanding first coal guidance of
    2017 but that we are one step closer to our goal of building a long-term
    future with Queensland," added Mr. Janakaraj.
    
    Adani's mine, rail and port projects encompass the high quality,
    cost-efficient Carmichael mine, near Clermont, both the Carmichael and North
    Galilee Basin Rail, Queensland's first standard gauge line which will help
    open up the basin by linking the mine to the port of Abbot Point, and the
    existing Terminal One and soon to be constructed Terminal Zero at Abbot
    Point, near Bowen.
    
    The Chief Executive Officer of Downer, Grant Fenn, said the Adani mining
    services contract would be one of the largest of its type signed in Australia
    in recent years.
    
    "We're very much looking forward to working with Adani at the Carmichael Coal
    Mine, which is expected to become the largest thermal coal mine in
    Australia," he said.
    
    For further information please contact:
    
    Michael Sharp, Group Head of Corporate Affairs and Investor Relations  +61
    439 470145
    Luke Thrum, Manager Investor Relations    +61 459 828720
    
    Downer EDI Limited (www.downergroup.com) provides comprehensive engineering
    and infrastructure management services to the public and private Minerals &
    Metals, Oil & Gas, Power, Transport Infrastructure, Telecommunications, Water
    and Property sectors across Australia, New Zealand and the Asia Pacific
    region.
    End CA:00259199 For:WKS    Type:GENERAL    Time:2014-12-19 13:00:52
    				
 
watchlist Created with Sketch. Add WKS (NZSX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.