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AusGroup unit secures A$30m construction contract

AUSGROUP Limited's subsidiary AGC Industries has secured a A$30 million (S$28.52 million) construction contract with Yara Pilbara Nitrates in Western Australia.

The contract covers deconstruction and construction work of dryers, heat exchangers and an absorption tower for a technical ammonium nitrate plant. 

AGC is the primary contractor that will provide work including welding, boilermaking, scaffolding, rigging, cranage, insulation and fabrication.

The construction and marine services provider, currently on the Singapore Exchange's watch-list, had also in June secured various contracts for construction and maintenance work worth over A$25 million in total.

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Additional work had been secured as part of its Master Services Contract with Chevron Australia, where AGC will provide multidisciplinary services including onsite structural, mechanical & piping, electrical & instrumentation and painting & insulation on the Chevron-operated Gorgon Project.

Shares of AusGroup closed down 3.7 per cent at S$0.026 on Friday.