Monadelphous Group Limited (ASX: MND) Gets In The Panel Of Capital Works Program Of Hunter Water Corporation

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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. 

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.

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Kunal Sawhney
Kunal Sawhney is founder & CEO at Kalkine and is a richly experienced and accomplished financial professional with a wealth of knowledge in the Australian Equities Market. Kunal obtained a Master of Business Administration degree from University of Technology, Sydney. He has an extensive expertise in quantitative and qualitative stock selection practices, and he proficiently navigates on equity related matters while enabling them achieve success in complex market conditions. Kunal features as a guest speaker at various equity research platforms and news channels on a regular basis, sharing his valuable insights on the subject. His firm provides holistic view of stock investment recommendations to retail investors with respect to financial performance, strategy, and industry catalysts. The firm looks for stocks that are out of favour with the market and a combination of tangible and intangible aspects is used for stock picking with a great focus on income and growth portfolios. Kunal is featured regularly on Sky Business, CNBC and Australian Financial Review

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