NRW Holdings' (ASX:NWH) AU$157 million contract from Rio Tinto (ASX:RIO) is a win for its metallurgical, engineering and technology (MET) segment, which adds confidence in delivering on its full year guidance, according to a Monday Australian bourse filing.
The company on Friday said its unit, Primero Group, has been awarded a contract worth about AU$157 million by Rio Tinto (ASX:RIO) for the Hope Downs 2 satellite & bedded hilltop non-process infrastructure (NPI) facilities as part of the Hope Downs 1 sustaining project.
The research firm said the contract also provides solid levels of work in this division throughout 2026, and together with Fimison delivery, the MET business begins 2026 in good shape.
The research firm expects more contract wins in the future.
Euroz Hartley has maintained NRW Holdings' buy rating with a price target of AU$4.23.
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