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NRW builds on BGC link

NRW Holdings has built on its recent acquisition of BGC Contracting with a A$138 million infrastructure contract with Fortescue Metals Group at the Eliwana mine in Western Australia’s Pilbara.
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The Eliwana mine and rail project in Western Australia

NRW CEO and managing director Jules Pemberton said the BGC pick-up had boosted NRW's operational delivery capabilities in the Pilbara by adding skilled personnel with the capabilities and experience to safely and efficiently deliver the project's large bridges and concrete structures.

Under the contract's scope BGC will lay about 65km of rail, including earthworks, roadworks, drainage works and construction of bridges and precast structures.

Workers will mobilise to site shortly, with 400 expected at the project's peak.

About 140 pieces of plant and equipment are expected to be used for the project.

BGC Contracting CEO Greg Heylen said BGC was committed to supporting safe delivery of the project for FMG.

NRW shares (ASX: NWH) have doubled in value in the past 12 months, taking its market capitalisation to about A$1.29 billion.

The company acquired Australia-focused BGC Contracting at the end of last year in a deal worth about A$310 million.

It raised $120 million via a placement at $2.65/share and this week said a $10 million share purchase plan, with new shares issued at the same price, had also been completed.