GR Engineering Services (ASX:GNG) said it was awarded a variation to its existing engineering, procurement, and construction contract with Greenstone Resources (WA), a wholly-owned unit of Vault Minerals (ASX:VAU), for the stage two upgrade for the King of the Hills processing plant in Western Australia, according to a Thursday Australian bourse filing.
The value of the stage two upgrade variation is AU$79 million, including provisional sums, which brings the total contract value for the project to AU$155 million.
The scope of the project consists of the design, procurement, construction, installation, and commissioning of the upgrade to the King of the Hills plant, the filing said.
The stage two upgrade will increase the annual throughput of the wet processing plant to 7.5 million tonnes per annum.
GR Engineering's shares rose 1% in recent trading on Thursday, while those of Vault Minerals fell 1%.
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