Sirius Minerals awards build contract for UK fertliser project
By Frank Prenesti
Date: Monday 12 Nov 2018
(Sharecast News) - Sirius Minerals said it had extended its tunnelling contract with STRABAG to include engineering, procurement and construction of the fit-out of its 37km underground fertiliser transport system in North East England.
The fit-out includes the conveyor, the maintenance railway, electrical and communications infrastructure, and all other services in the tunnel, Sirius said, adding that the deal was a "significant milestone".
More than 50% of the fit-out price is on a fixed rates or lump sum basis. The remainder is based upon estimated prices that will be converted into fixed prices prior to completion of stage two financing, it added.
The company expects the capital funding requirement of the project to be $3.4bn - $3.6bn against previous estimates of $3bn.
The mineral transport system (MTS) will carry the company's mined polyhalite from 360 meters underground at its Woodsmith mine site to the materials handling facility at Wilton, Teesside, on a 37km underground conveyor system.
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