North American Construction (TSE:NOA) has released an update.
North American Construction Group Ltd. (NACG) has announced a lucrative five-year contract extension, worth an estimated $500 million, with the MacKellar Group for mining services in Queensland, Australia. The deal, extending until 2030, includes additional heavy equipment purchases amounting to $20-$25 million and expands NACG’s fleet at the site to around seventy units. This extension underscores NACG’s growth and operational strength in the Australian mining sector, with plans to potentially transfer underutilized Canadian fleet to meet the robust demand in Australia.
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