EVZ Secures Energy and Resources Sector Contracts Worth AU$28.5 Million

Australian engineering services company EVZ (ASX:EVZ) said on Tuesday (January 7) that it has been awarded two contracts in the energy and resources sector through its subsidiary Brockman Engineering.

The contracts are for the engineering and construction of the Hastings fuel terminal expansion, and for storage tanks for the Eneabba rare earths refinery project in Western Australia. In total they amount to AU$28.5 million.

“We are very pleased with the ongoing success of our businesses in the Energy & Resources sectors, as they expand their presence and grow their backlog for the upcoming periods,” said CEO Scott Farthing.

The Hastings fuel terminal expansion contract covers the engineering and construction of the project’s next stage for United Terminals, including adding two new bulk fuel storage tanks, civil groundworks and associated balance of plant works.

The other contract is for a package of five bulk storage tanks that will form part of the Eneabba rare earths refinery project. It will be completed in conjunction with Tank Industries, a water tank designer and manufacturer based in Australia.

Enneabba is set to be Australia’s first fully integrated rare earths refinery.

“Brockman and Tank Industries have worked very closely with our client Iluka Rare Earth and their EPCM company Fluor Australia to develop innovative process storage solutions for the plant that meet their specific technical requirements,” EVZ said.

EVZ will now design and fabricate the tanks for Hastings, with mobilisation to the site scheduled in the first quarter of 2025. Completion is anticipated in the third quarter of 2026. Meanwhile, mobilisation for the Enneabba rare earths refinery is scheduled for the third quarter of 2025, with completion expected in the first half of 2026.

“These project successes place our businesses amongst the top innovative providers in their industry and provide a firm base from which to grow revenues and profits as our market sector-focused strategic plan evolves,” Farthing said.

EVZ said both projects will contribute to its revenue and earnings in its 2025 and 2025 fiscal years.

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Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.