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Monadelphous secures water deals

AAP logoAAP 21/11/2016

Engineering services player Monadelphous Group has expanded its contract with Sydney Water and landed a deal to upgrade a sewage plant in Queensland, worth a combined $200 million.

Monadelphous will service Sydney Water waste treatment facilities as part of an existing contract until at least 2018, and will design and construct a major upgrade to Unitywater's Kawana Sewage Treatment Plant, on the Sunshine Coast, to be completed by December 2018.

The contracts come three months after Monadelphous - whose shares were $7.81 in late September but opened at $10.40 on Tuesday - announced a 37 fall in annual net profit to $67 million.

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