Engineering and infrastructure contractor RCR Tomlinson Limited (ASX: RCR) today announced the signing of Early Contractor Involvement(ECI) services agreement for the development study of Mt Piper Energy Recovery Project located in New South Wales. The agreement has been inked with joint developers of the project EnergyAustralia Development Pty Ltd and Re.Group Pty Ltd.
EnergyAustralia Development Pty Ltd is a private electricity providing company in Australia. It supplies gas, solar power, electricity, coal, solar hot water systems and grid connect inverters. Whereas, another partner to the project Re.Group Pty Ltd is an Australia based waste management company focused on providing services for resource recovery and recycling from waste.
The ECI agreement requires RCR Tomlinson to develop the design, scope, schedule and costings of the project that well suits for the final investment decision due in 2019. It also intends to ensure the level of suitability for the engagement of Engineering, Procurement and Construction (EPC) contractor.
Mt Piper Energy Recovery Project is a waste-to-energy project with a power generation capacity of around 1400-megawatt (MW). Located near Lithgow in New South Wales, the project involves using non-recyclable plastics, linen and cardboard, known as refuse derived fuel (RDF), in a specifically-designed boiler to create steam.
The project includes the potential installation of a standalone boiler facility adjacent to and integrated with the existing Unit 2 coal fired boiler at Mt Piper Power Station.
Steinmuller Babcock Environment GmbH has been chosen by RCR Tomlinson as their technology partner in ECI services of the project.
RCR’s Interim CEO and Executive Director Mr. Bruce James stated that RCR has an extensive footprint in waste-to-energy solutions and significant experience in Early Contractor Involvement to assist customers to arrive at Final Investment Decision for their project. The has experience in multiple sectors including transport, energy, capability and resources to deliver full-fledged Engineering, Procurement and Construction (EPC) solutions.
Further, Mt Piper Energy Recovery project marked with lower emissions generation is currently in its development phase and is expected to generate first power in 2021.
Going back into the company’s recent progress, RCR jointly with its design partner Opus International has inked an interim project alliance agreement with City Rail Limited. The agreement is intended to carry out project services on the Auckland City Rail Link project. As at 30 June 2018, company net cash was $54.8 million and net assets of $380.9 million.
Ahead of wining ECI contract, RCR stock rushed higher on Australian Securities Exchange. The share price of RCR Tomlinson has recorded a daily price change of +2.762% to last trade at $0.930 on 18 October 2018. Its market capitalization is $240.41 million as on 18 October 2018.
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.