Engineering firm UGL has secured USD 200 million in contracts tapping into Australia's resources boom. The contracts are across the coal, oil and gas and iron ore industries.

They include work on a desalination plant at the Sinosteel plant in the Pilbara; a maintenance contract at BHP's Olympic Dam and crude distillation unit work with Caltex.

Such recurring asset services revenue represented nearly 70 per cent of the company's resources business, UGL chief executive Richard Leupen said.

The statement “The outlook for the resources business remains healthy with an estimated USD 11 billion pipeline of tendering opportunities identified.”

(Sourced from www.skynews.com.au)