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GR ENGINEERING SERVICES LIMITED — Capital/Financing Update 2020
Aug 4, 2020
65003_rns_2020-08-04_000b193a-ea47-4306-958f-15b38fe4be5b.pdf
Capital/Financing Update
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ASX RELEASE
5 August 2020
For immediate release to the market
Lake Way Project – Funding Finalised
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.”
Ends.
For further information please contact:
Geoff Jones Managing Director +61 8 6272 6000 [email protected]
Omesh Motiwalla CFO & Company Secretary +61 8 6272 6000 [email protected]
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GR ENGINEERING SERVICES LIMITED ABN 12 121 542 738 Tel: +61 8 6272 6000 Fax: +61 8 6272 6001 Email: [email protected] Website: www.gres.com.au PO Box 258, Belmont WA 6984 71 Daly Street, Ascot WA 6104