Construction and engineering company Decmil Group Limited (ASX: DCG) announced today that it had secured a $150 million contract with QGC Pty Limited for works within the Surat Basin.
The contract runs over three years with the option to extend for an additional two years.
Decmil’s CEO said the contract win builds on the company’s established reputation in the Coal Seam Gas sector and it expects, “increased activity in the sector and our Queensland business unit over the next few years”.
Decmil shares were up 2% following the announcement.
Decmil is not the only heavy industry service provider that has been securing big contracts. Cimic Group Ltd (ASX: CIM), Downer EDI Limited (ASX: DOW), Watpac Limited (ASX: WTP) and Worleyparsons Limited (ASX: WOR) have all had success in recent times.
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You can find Kevin on Twitter @KevinGandiya.
The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.