WestStar Industrial Limited’s (ASX: WSI) engineering contractor business SIMPEC has been awarded a major construction contract by the Iron Bridge Magnetite Project to construct the Wet Processing Plant in Western Australia.
The Project is a joint venture between Fortescue Metals Group subsidiary FMG Magnetite Pty Ltd and Formosa Steel IB Pty Ltd. Valued at $145 million, SIMPEC will deliver the works to support the development of a new mine and associated infrastructure for Iron Bridge, situated approximately 145km south of the town of Port Hedland in Western Australia’s Pilbara region.
The Wet Processing Plant is a significant part of the new magnetite mine which will be central to the production of 22 Wet Million Tonnes Per Annum (WMTPA) of high grade, magnetite concentrate product.
SIMPEC will supply vertical construction services for the works, with an anticipated workforce of more than 500 personnel. This intricate project consists of major module installation, tank installation, major mechanical installation, large bore piping and a significant portion of supply and installation of electrical and instrumentation works.
SIMPEC Managing Director, Mark Dimasi, said the works will be self-performed by the SIMPEC team, supporting local businesses and jobs in the Pilbara region.
This is an important milestone achievement for SIMPEC in the delivery of our Company’s mission to deliver major projects in the industry,” Mr Dimasi said.
“The award of the Wet Plant Project represents our largest contract win to date with a first-tier client. To achieve this in just over 4 years of being part of the Group is a remarkable achievement. Its proof that our people and culture are building a reputable Company that clients trust.
“We look forward to further developing our relationship with the Iron Bridge Joint Venture and thank them for the opportunity to deliver such a high-profile project. Thank you to the team for their dedication and efforts in securing this major award. This contract will strengthen our position in the market and allow us to continue to take our business to a new level.”