EFIC has provided bonding facilities to support McConnell Dowell Constructors (Aust) Pty Ltd’s third contract with Lane Xang Minerals in relation to work for the Sepon Project.
The contract, valued at about US$2.3mn, is for the supply and installation of structural steel works for the Gold Expansion Project at the Sepon mine in Savannakhet Province, Laos.
This contract represents McConnell Dowell’s third project at the Sepon mine and the company’s first in connection with the gold expansion project. Work on this latest contract has already commenced.
EFIC also provided bonding support in respect of one of McConnell Dowell’s contracts for the copper project earlier this year.
“Clients continue to require security in the form of bonds and EFIC’s assistance has enabled us to win work at the mine and compete more effectively in emerging markets”, says Dale Morrison, CFO of McConnell Dowell.
EFIC has also worked with McConnell Dowell over the past two years on the Mozambique-to-South Africa natural gas pipeline project.