Australian engineering company Monadelphous Group Limited today announced the winning of Capital Works Design and Construct program with Hunter Water Corporation for the initial term of four years in exchange of $450 million consideration. With this appointment the group becomes the third contractor in the panel of Hunter Water Corporation Complex Capital Works Design and Construct.
As per the terms of appointment, the capital works program will include Monadelphous Group to provide services for the upgradation and renewal of water, waste water and recycled water systems. The contractor also has an option to extend the term of contract by an additional two 1-year period.
Headquartered in Perth, Monadelphous also told that under this program it has secured the first contract at the Dungog Water Treatment Plant. The work includes the provision of a chemical systems upgrade, filter to waste system, and replacement of current electrical switchboards. The company expects the completion of work by the end of the 2019 calendar year.
Hunter Water is a government owned company which provides drinking water, recycled water and wastewater services. It is located in the Hunter Region of New South Wales, Australia and is a subsidiary to NSW Government. [optin-monster-shortcode id=”wxhmli4jjedneglg1trq”]
Monadelphous Managing Director, Rob Velletri stated that Monadelphous’ appointment to the panel demonstrates the company’s proven track record in the water infrastructure market. He added that the delivery of high quality, safe and reliable services in the water sector well positions the company for future growth.
The share price of Monadelphous Group has been drifting lower from the recent up stream. As the stock has gone down by 0.241% to last trade at $16.570 on 5 October 2018. MND has seen a performance change of +6.34% over the past one year while it most recently traded at PE of 21.820 x with market capitalization of $1.56 billion.
The Income available from dividends remains attractive for many investors.
We take a look at the best yields on the market and assess what they say about a company’s prospect.
One Thing is certain, though, Australia interest rates are still low, making income difficult to come by and keeping the focus for many investors on high yielding stocks. Kalkine’s team of analysts bought you handpicked report for “Top 25 Dividend Stocks For 2018.”
ASX-relevant Special Reports are published year-round to provide a detailed analysis into an investing opportunity or a potential risk to your portfolio.
Click here to get your free report.
The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkinemedia.com and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.