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The US markets closed higher last night. The Dow closed up 103 points or 1.2% at 8403, the S&P500 was up 13 points or 1.5% at 906 and the Nasdaq was up 20 points or 1.2% at 1743.
Gold and oil both closed higher. Gold was up $8.00 at $963.20/oz and crude oil was up $0.63 at $65.08/bbl.
Monadelphous (MND) announced it has secured a $170 million contract with Woodside for major works associated with the $12 billion Pluto Liquefied Natural Gas (LNG) Project in the north west of Western Australia. The contract includes structural, mechanical and piping works for the installation, erection and precommissioning of the plant Offsite Utilities and Acid Gas Removal Unit (AGRU). Project works will begin immediately with completion scheduled for the second quarter of calendar 2010.
Commenting on the new contract Managing Director Rob Velletri said “the work awarded on Pluto is a landmark win for Monadelphous. We are very pleased Woodside has chosen us as a key partner on this prestigious project. This win strengthens our position in the oil and gas sector and will enable us to capitalise on the pipeline of LNG projects ahead.” “Together with other projects announced since October 2008, this brings the total new construction contracts awarded to Monadelphous to approximately $500 million and further strengthens the company’s forward workload for the 2009 / 2010 financial year.”
Leighton Contractors (LEI) today signed an agreement with EnergyAustralia to create the Energy2U Alliance to support the delivery of the proposed $8 billion electricity network upgrade and renewal program for the Sydney, Hunter Valley and Central Coast regions between 2009 and 2014. The newly formed Energy2U Alliance brings together Leighton Contractors, AECOM, PowerServe and EnergyAustralia as the owner participant.
The Energy2U Alliance will provide EnergyAustralia with additional capacity to manage expected overflow works from EnergyAustralia’s proposed capital works program. The Energy2U Alliance is one of two private-sector service alliances awarded by EnergyAustralia for this purpose. EnergyAustralia expects to provide the Energy2U Alliance with approximately $100 million of over-flow project work per annum. The exact value of the Leighton Contractors component of the Energy2U Alliance is subject to EnergyAustralia’s over-flow works requirements. Projects will be assigned as they become necessary and the specific terms of individual projects will be negotiated on a case by case basis. Discussions on the first project for the Energy2U Alliance are underway.
Peter McMorrow, Managing Director, said securing the alliance with Energy Australia was a significant step for Leighton Contractors’ presence in the energy infrastructure market in NSW. “As part of the Energy2U Alliance, Leighton Contractors brings extensive skills and experience in delivering multi-disciplined projects and services from asset development and design, to electrical infrastructure installation, and heavy civil and building works,” Mr McMorrow said.
EnergyAustralia Managing Director, George Maltabarow, said the Energy2U Alliance would assist in the delivery of the largest energy infrastructure program in the country. “We will be renewing, replacing and upgrading our electricity network so that it continues to deliver reliable supply of power to homes and businesses,” Mr Maltabarow said. “Our upgrade will also mean that the electricity network can meet increasing demand for power.”
Hamilton James and Bruce (HJB) are pleased to announce that we have been selected as a preferred supplier for the NSW Government, on the Contingent Workforce Contract 100 (C100) in the following 4 categories from a total of 9 categories;
With a total estimated value of $400 million, the C100 represents a huge opportunity for the listed recruitment company to increase their penetration in the Government sector.
The Contract 100 is set to provide best price, best value for government agencies and other eligible customers. Of the 18 agencies selected to work on this major contract, Hamilton James and Bruce is one of only 7 agencies who was selected to work on 4 categories or above.
Hamilton James & Bruce have existing relationships with numerous Government clients across Australia including Local, State and Federal Government. With previous experience working with the NSW Government on the now concluded 1078 Contingent Workforce Contract, Hamilton James & Bruce are well placed to take advantage of this major opportunity.
The US markets gave up most of the previous days gains as GM bankruptcy looks likely and treasury bond auction attarcts little interest. The Dow closed down 173 points or 2.0% at 8300, the S&P500 was down 17 points at 893 and the Nasdaq was down 19 points or 1.1% at 1747.
Gold and oil both continued to climb higher. Gold was up $0.10 at $955.20/oz and crude oil was up $1.00 at $63.45/bbl.
