GenusPlus Group (ASX:GNP) strikes $20M in WA contracts through ECM

• GenusPlus Group (GNP) has signed $20 million worth of construction contracts for resource and power projects around Western Australia
• The contracts, signed through GNP subsidiary ECM, are for non-process infrastructure, electrical and instrumentation work at some important WA projects
• The first deal, signed with Ahrens Group, will see ECM provide electrical, communications, tech and fire works for BHP’s South Flank iron ore project
• The second deal, struck with Acciona Construction Australia and John Beever, is for an electrical and instrumentation package at the Kwinana Waste to Energy project
• Both contracts will be completed before the end of 2021 if all goes according to plan
• Shares in GenusPlus closed 1.38 per cent higher today at $1.03 per share

GenusPlus Group (GNP) has signed $20 million worth of construction contracts for resource and power projects around Western Australia.

The contracts were signed through ECM, a subsidiary of the Perth-based power and telecom infrastructure provider.

Under the first deal, made with Ahrens Group, ECM will provide electrical, communications, tech and fire works for non-process infrastructure at the BHP South Flank iron ore project.

According to BHP, this project will be one of the biggest iron-ore operations on the planet. Located in WA’s Pilbara region, BHP said the project was 84 per cent completed in early December 2020.

GenusPlus told shareholders the EMC work at the project will begin immediately and should be finished by mid-2021 if all goes according to plan.

The second deal was struck with Acciona Construction Australia and John Beever for an electrical and instrumentation (E&I) package at the Kwinana Waste to Energy project.

This project, being built by Acciona, will be the first waste-to-energy plant in WA, just 40 kilometres south of Perth. The plant is expected to process up to 400,000 tonnes of waste each year with an energy production capacity of 36 megawatts.

GenusPlus’ work on the E&I package at the project is expected to be finished by the end of 2021.

GenusPlus Managing Director David Riches said this Kwinana project deal is a particularly pleasing contract for ECM.

“It is a major milestone in the consolidation and re-positioning of ECM and reinforces the Genus strategy of a broader offering in its key markets,” David said.

And it seems investors were largely pleased with today’s deals, too. GNP shares spiked almost 7 per cent at market open today before paring back some of their gains.

At market close, shares in GenusPlus were up 1.98 per cent at $1.03 per share.