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OTOC Limited wins A$6.2M in early works for Nauru Processing Centre  Join our daily free Newsletter

MENAFN - ProactiveInvestors - Australia - 29/11/2012

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(MENAFN - ProactiveInvestors - Australia) OTOC Limited (ASX: OTC) has secured an initial A6.2 million worth of work on the Australian Government's planned Nauru Processing Centre.

Being awarded this work marks an important entry into a sector that will see significant growth in the next few years.

Civil engineering and building company Canstruct, which has been contracted by the Federal Government to project manage construction, plans to award a contract to OTOC for the construction of the centre.

The 6.2 million of early works forms part of the proposed 22.7 million contract, with preliminary preparatory work to begin immediately and OTOC personnel expected to be onsite in December.

The overall work includes the supply of labour and material for stage one of the Nauru Processing Centre which will comprise a 900 person facility.

This new work further diversifies OTOC's 2013 earnings profile with a mix of resources construction, government contracting, and surveying and urban planning revenue streams.

On the resources side, OTOC recently secured a 32 million contract from mining heavyweight Rio Tinto (ASX: RIO) for the installation of accommodation units at the Brockman 4 Operations Village.

The contract, which was awarded to wholly owned subsidiary OTOC Group, is part of the Rio Tinto Nammuldi Below Water Table Project in the West Pilbara region of Western Australia.

OTOC has undertaken several projects for blue chip clients including Rio, BHP Billiton (ASX: BHP) and Fortescue Metals Group (ASX: FMG).

 






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