Macmahon Holdings (MAH), a mining and civil construction company said on Friday it has been awarded a ten year quarrying contract in South East Asia for the world's largest cement producer Lafarge.
Chief executive officer, Nick Bowen, explained that this was the second major contract with Lafarge in South East Asia for Macmahon.
The contract at Lhoknga in the Northern Sumatra province of Aceh is valued at US$60 million. It involves development and quarrying of limestone to supply the region's largest cement manufacturing plant.
"We have now established a solid foundation from which to increase the size of our operations in this region," he said.
"We will now plan the mobilisation of our project team and aim to start operations in the 2008 calendar year," he said.
The Lhonkga mine and limestone processing plant is owned by PT Semen Andalas Indonesia, a wholly owned subsidiary of Lafarge.
It's all been happening for Macmahon in recent weeks.
Only on Monday, the company signed a ‘de-facto' partnership agreement with Leighton Holdings for joint projects.
Leighton currently holds 14.9% of Macmahon.
Macmahon was recently included in the S&P/ASX 200 stock index, replacing property and construction group Multiplex group after it was taken over by Canada's Brookfield Asset Management.
Shares dipped 10 cents to $1.85 at close.
