Australian industrial services company WestStar Industrial Limited’s (ASX: WSI) engineering contractor business SIMPEC has commenced major construction activities on the Iron Bridge Magnetite Project Wet Processing Plant. The Project is a joint venture between Fortescue Metals Group subsidiary FMG Magnetite Pty Ltd and Formosa Steel IB Pty Ltd.
SIMPEC has commenced first steel erection for the development of the new mine and associated infrastructure for Iron Bridge, situated approximately 145km south of the town of Port Hedland in Western Australia’s Pilbara region.
The Wet Processing Plant is a significant part of the new magnetite mine which will be central to the production of 22 Wet Million Tonnes Per Annum (WMTPA) of high grade, magnetite concentrate product.
SIMPEC is supplying SMP and E&I vertical construction services for the project. This intricate project consists of major module installation, tank installation, major mechanical installation, large bore piping and a significant portion of supply and installation of electrical and instrumentation works.
“The commencement of this prestigious project is a major milestone for the team and business. The positive safety culture and experienced project team has allowed for a safe and on time commencement of construction activities for the project,” SIMPEC Managing Director, Mark Dimasi, said.
“Facilities, Plant and Equipment have been mobilised to site and the team has a crew of almost 100 personnel on and off-site performing planned construction activities, this is a remarkable achievement.
“This is an important milestone achievement for SIMPEC, its proof that our people and culture are building a reputable company that delivers. We look forward to further project updates and thank the Iron Bridge Joint Venture for the opportunity to deliver such a high-profile project. Thank you to the team for their dedication and efforts so far for delivering industry excellence.”
Outlook
Mr Dimasi said SIMPEC continues to develop and strengthen its overall business capability to move further into the Minerals, Gas and Renewables industries throughout Australia.
“We believe our overall focus on both major projects and term sustaining capital contracts will further enhance SIMPEC’s positioning for FY2022 and beyond. Tendering and proposals across the Group remains strong, as we consistently deliver projects at a high standard.
“A well balanced portion of the submissions were from both repeat and new clients within the mining and infrastructure, and oil and gas sectors. The results of increased activity and tendering is now delivering positive outcomes for the business.”