finally job taken by samsung s&t

Why Forge failed?
FGE will soon delisted from ASX.

http://au.news.yahoo.com/thewest/a/21709092/forge-replaced-at-roy-hill/

The lead contractor on Gina Rinehart's Roy Hill iron ore project, Samsung C&T, will take over construction work from the collapsed Forge Group.

Samsung said today it had signed a new term sheet for the contract with Spanish engineering firm Duro Felguera, Forge's former joint venture partner.

Forge and Duro were engaged by Samsung last year to build the mine's processing plant for $1.47 billion. The contract was axed when Forge went into administration earlier this month.

Samsung said it would undertake the work scope of Forge using its own capabilities, and would also engage "more experienced and sound local contractors".

"After the insolvency of Forge Group, Samsung C&T has been working with the client Roy Hill closely and co-operatively and resumed the civil works promptly," Samsung said.

"Critical progress is under control and the rail and port packages are under smooth progress as scheduled."

Samsung said it was confident the project would deliver the first ore as targeted in September 2015.