Engineering company Monadelphous Group (ASX: MND) has entered into a new five year crane services contract with Fortescue Metals Group Ltd (ASX: FMG).
The order is valued at approximately $ 150 million.
Its purpose is to provide crane services to support general repairs, maintenance and shutdown activities for Fortescue’s Solomon and Eliwana operations in the Pilbara region of Western Australia.
Monadelphous has been providing crane services to Fortescue’s Solomon operations since 2017 and expanded those services to Fortescue’s Eliwana operations last year.
Shares in the Monadelphous Group (ASX: MND) traded 0.53 percent lower at $ 11.19.