The combined value of the Contracts is approximately $107 million, which GR Engineering anticipates will be realised predominantly in FY21
Funding finalised for Lake Way project. (Credit: Khusen Rustamov from Pixabay.)
GR Engineering Services Limited (ASX:GNG) (GR Engineering) refers to its announcement of 15 June 2020 in relation to the contracts entered into with Salt Lake Potash Limited (ASX:SO4) (SO4) for the design and construction of the Lake Way Project processing plant and non-process infrastructure (Contracts).
GR Engineering is now pleased to announce that SO4 has finalised its funding for the Lake Way Project. The combined value of the Contracts is approximately $107 million, which GR Engineering anticipates will be realised predominantly in FY21.
Commenting on SO4 finalising its funding, GR Engineering’s Managing Director, Mr Geoff Jones, said:“We are pleased that SO4 has achieved a major funding milestone for the delivery of the Lake Way Project. This provides GR Engineering with certainty in relation to project execution and delivery timing. We look forward to continuing to successfully and safely deliver the Lake Way Project.”
Source: Company Press Release