Multi-disciplined engineering and construction company, Saunders International Limited (ASX:SND) has been granted with mechanical refurbishment and upgrade of two further tanks for BP at its Bulwer Island site. Mechanical refurbishment, cleaning, protective coating & civil services encompass Saunders’ scope of works in the contract, which is worth ~ $ 12 million.
Revenue is likely to flow in from FY21-H1 through to FY22. The contract has increased new wins for Saunders’ in FY20-H2 to more than $ 90 million and reflects the Company’s position as a prominent maintenance service provider to the Australian oil & gas industry.
Previously, Saunders has been engaged in works for BP’s Bulwer Full Fuels Project (refurbishment of three tanks and two separate piping projects).
Post release of the announcement, SND rose by 9.3% and quoted $ 0.47 (11:34 PM AEST, 23 June 2020).
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