$11.2 million worth of energy services contracts secured by Valmec

Valmec, Australian energy services group, secured new and additional contracts worth approximately $11.2 million which aids in continuing to build its order book.

The energy company has secured new gas construction and services contracts in Queensland with additional infrastructure contracts in Western Australia.

Commencement is expected immediately for these contracts as completion is due in the first half of the 2018 financial year.

“Valmec continues to be actively involved in early contractor involvement activities on larger tender opportunities, with the majority of these tenders now expected to be converted to awards within the next for months,” the company said.

Valmec will see a 40 per cent increase from the 2016 financial year with secured revenues of around $72 million dollars for the 2017 financial year.

According to Valmec, this growth is attributed to stronger tendering activity within larger gas construction projects together with its increased recognition as a preferred contractor in infrastructure and service markets.

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Sources: Australian Mining