Brief: Monadelphous Says Contracts At Albemarle's Kemerton Project Terminated

Monadelphous

01/08/2024 08:01

Aug 1 (Reuters) - Monadelphous Group Ltd  MND.AX :
    * ALBEMARLE CONTRACTS UPDATE
    * NOTIFIED BY ALBEMARLE THAT CO'S CONTRACTS AT ALBEMARLE'S
KEMERTON PROJECT HAVE BEEN TERMINATED
    *  SEES AGGREGATE REVENUE TO BE DELIVERED FROM ALL WORKS FOR
ALBEMARLE AT KEMERTON PROJECT FOR FY25 WOULD BE BETWEEN A$75M -
A$85M
    * ESTIMATES THAT ITS CONTRACTED CONSTRUCTION WORKS ARE
CURRENTLY
15% - 20% COMPLETE
    * TERMINATION OF CONTRACTS REDUCES CO'S CURRENT CONSTRUCTION
WORK-IN-HAND BY A$200M
    * VERBALLY NOTIFIED ALBEMARLE ALSO TERMINATED CO'S
MAINTENANCE
SERVICES AND SUSTAINING CAPITAL PROJECTS CONTRACTS

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