Theiss wins $1bn Indonesian contract
October 14th, 2008 | by mantrionline |Thiess Pty Limited was awarded a five-year contract worth $1 billion for the development and operation of two Indonesian coal mines. The deal follows the company’s goal to expand its presence in Indonesia.
The company said the contracts involved mine planning, overburden removal, coal mining, loading and transportation at the Teguh Sinar Abadi and Firman Ketaun Perkasa coal mines, subsidiaries of Indonesia’s Bayan Resources.
Managing director David Saxelby said the contract formed a key part of its diversification strategy.
“It will provide us an opportunity to reinforce within the market the depth of expertise within our mining and construction business in Indonesia,” he said.
The company said work would commence immediately with equipment already onsite.
“The initial production target is 4 million tonnes of coal and 40 million BCM of overburden per annum, to be achieved by the third year,” the company said.
At 1015 AEDT, shares in Leighton Holdings were up $4.90 or over 14.5% to $38.65.
