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BABYLON PUMP & POWER LIMITED — Capital/Financing Update 2018
Oct 4, 2018
64557_rns_2018-10-04_fba737f1-f620-45d0-ae04-782811d1dc8c.pdf
Capital/Financing Update
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ASX Release
5 October 2018
Babylon Secures Power Generation and Dewatering Rental Contract
Key Points
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Babylon wins power generation and dewatering contract with BHP
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Initial contract to contribute circa $0.67M in revenue in FY19
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Contract term of 6 months commencing in Q2 FY19
The Board of specialist resources services provider Babylon Pump & Power Limited (“Babylon”), (ASX: BPP, BPPOA), is pleased to announce that it has secured a new supply of power generation and dewatering contract with BHP Billiton (“BHP”).
Under the contract, Babylon will supply and install power generation and dewatering pumping equipment for BHP.
The works are expected to begin immediately, with commissioning scheduled for November 2018. The initial contract will run for a minimum term of 6 months and is expected to contribute circa $0.67M in revenue for FY19.
The Board is optimistic the existing contract will continue on a rolling basis at the end of the initial 6 month term.
Babylon’s Board is grateful for the confidence BHP have placed in Babylon and look forward to building a strong and positive working relationship with BHP moving forward.
For more information, please contact:
Michael Shelby Executive Chairman +61 (0) 8 9454 6309 [email protected]
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