Van Elle secures 'strategically important contracts' with ONxpress
Van Elle Holdings
42.50p
12:30 25/10/24
Ground engineering contractor Van Elle's Canadian rail subsidiary has been awarded two "strategically important contracts" by ONxpress.
FTSE AIM All-Share
723.10
13:05 25/10/24
Van Elle said on Friday that ONxpress, the delivery consortium responsible for the design and delivery of the CAD $20.0bn (£11.12bn) GO Expansion infrastructure upgrade programme for the Toronto rail network, had appointed it as a strategic supply partner for overhead electrification and other lineside foundations, ahead of the delivery phase of the GO Expansion programme.
The AIM-listed group stated the scope of the contract includes the development of design, construction methodologies and planning, enabling activities including training, plant strategies and logistics, and early engineering works such as ground investigation, test piling and other advanced works, focussed on its on-track delivery expertise.
Van Elle said contracts under the framework were to be awarded in the second half of 2025 for delivery through 2028 and were expected to be worth over CAD $50.0m (£27.82m).
In conjunction with the role of strategic supply partner, Van Elle said it has also been awarded the contract to undertake track bed investigation works in support of the GO Expansion programme, with works to run through 2025 and expected to be worth over CAD $5.0m (£2.78m).
As of 0925 BST, Van Elle shares were up 6.17% at 43.0p.
Reporting by Iain Gilbert at Sharecast.com