Saunders International awarded $9.3m contract from Ampol

Saunders International (ASX:SND) has been awarded a $9.3m contract from Ampol to deliver a new fuel storage tank at its Lytton refinery in the Port of Brisbane.

Work includes the design and construction of a new 31m wide and 20m high jet fuel storage tank. It will comply with the strict quality assurance requirements associated with the storage and distribution of aviation fuels to airports.

The refinery will continue to operate throughout the construction phase and Saunders will work closely with Ampol’s operational team to optimise planning and ensuring the market continues to receive high-quality fuels throughout the project.

The contract forms part of Ampol’s future fuels desulphurisation project at the Lytton refinery which is designed to improve fuel security for Australia and deliver lower emissions fuel for customers.

Saunders managing director and chief executive Mark Benson is proud to have been awarded this project.

“We’re incredibly proud of our long-standing relationship with Ampol, and excited to have been awarded this strategically significant project,” he said.

Project mobilisation is expected to begin this month with completion by the end of 2024.

The project is forecast to contribute to Saunders’ revenue and earnings from FY24 to FY25.