MARKETS

UGL scores $88M rail contracts

ENGINEERING company UGL has received two new orders for its rail business to supply and maintain ...

Kristie Batten
UGL scores $88M rail contracts

The contracts are valued at $A88 million.

The company will supply 14 new GE Evolution locomotives for Rio Tinto Iron Ore’s Karratha operations, taking the total number of UGL-supplied locomotives for Rio in the Pilbara to more than 150.

UGL will also supply 7 C44ACi locomotives to an unnamed resources customer in the Hunter Valley.

The contract also includes a five-year maintenance contract to support rail haulage services.

UGL says it is well-placed to secure further rail contracts.

“We continue to see a large and long pipeline of rail opportunities, particularly in the resources-related rail freight market with both locomotives and wagons,” UGL managing director and chief executive officer Richard Leupen said.

Last month UGL posted a record full-year profit of $158.5 million, with the rail business contributing revenue of $1.2 billion.

UGL shares remain at $11.93 this morning.

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