News: Downer EDI wins $500M contract

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Downer EDI Limited (ASX:DOW) has secured a four-and-a-half year, half a billion dollar contract for mining services at the Roy Hill iron ore mine in the Pilbara.

 

Downer says the contract will see it begin infrastructure construction initially, while Roy Hill will be predominantly undertaking mining on an owner-operator basis.

 

The contract is expected to be executed by the end of November, with its total value estimated at $500 million.

 

The company says the capital required for the project will be about $110 million.

 

Downer EDI delivered a net profit of $204 million in fiscal 2013.