Downer EDI: Announces $450 million Fortescue contract
- Integrated services provider Downer EDI (DOW) is expanding its relationship with Fortescue Metals Group through a new contract
- Fortescue only turned the first sod at the $1.7 billion mine site in July of last year
- Downer EDI has previously worked on the Eliwana project
- Under the new contract, Downer EDI will provide early mining and maintenance services at Eliwana, over the course of five years
- For the following three years, Downer EDI will remain at the Eliwana mine site, in order to provide maintenance services
- But Downer EDI shares remain unchanged by the news today, trading for $4.56 per share at 11:26 am AEST
