Forge Group wholly owned subsidiary CTEC has won a $280 million contract from Rio Tinto to build a power station at Cape Lambert.
Forge Group managing director David Simpson said the contract to supply a combined cycle gas turbine power station was CTEC's second major project in the Pilbara with Rio Tinto.
"In November 2011 CTEC was awarded the $150 million EPC contract for the open cycle gas turbine power station project in the East Pilbara. This notice of award further reinforces CTEC's capacity in the region and Australia," Mr. Simpson said.
"Since acquiring CTEC in January this year, it has already made a substantial contribution to the group's revenue. It has also opened up a new industry sector for other Forge subsidiaries, creating opportunities, particularly for Abesque and Cimeco to provide complementary engineering and civil, mechanical and electrical and instrumentation services to CTEC and its clients."
The NOA is subject to the parties entering into an executed contract. Engineering site access is set fro next month, with main site access planned for March next year and project delivery early in 2015.
CTEC is responsible for all power construction, engineering and design for the Forge group.
CTEC specialises in gas turbine power plants, providing solutions in open or combined cycle configurations to meet client specifications.
Forge's cornerstone shareholder is Clough Ltd.Forge closed higher by 7 cents, up 1.7 per cent, at $4.17..
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