FMG NFK

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  1. FNN News
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    17/08/12
    11:09
    Post #: 10582591
    .


    Iron ore miner Fortescue Metals Group Limited (ASX:FMG) has awarded engineering services company Norfolk Group Limited (ASX:NFK) a $56 million contract. 




    Norfolk Group and GE Transportation will work on a new radio based signalling system on Fortescue's track duplication project between Port Hedland and the Christmas Creek iron ore mine in the Pilbara region of Western Australia.




    The signalling system will be the first of its kind in the Pilbara and use satellite positioning technology to track train movements. 




    The contract also includes the installation of two control hubs to allow Fortescue to track trains and control signalling from both its Perth headquarters and Port Hedland. 




    Works will start straight away and are expected to be finished by the end of 2012. 




    In the first half of its 2012 financial year Fortescue Metals Group recorded a net profit of $789 million.

    FMG Price at posting: $4.18 Sentiment: None Disclosure: Held
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