Arcadis N.V.(ARCAY.PK, ARCVF.PK), a Dutch engineering and consultancy firm, Wednesday said it has signed a mine expansion contract worth more than $60 million with Ferrous Resources in Brazil. Under the 41-months period contract, Arcadis will offer engineering, procurement and construction management or EPCM consulting services for the expansion of the Viga iron ore project in Brazil.
Ferrous will invest $1.28 billion to meet a capacity of 15 million tons of pellet feed per year at the Viga Mine by the end of 2017, while Arcadis will lead the consortium and is expected to perform 60 percent of the work.
The basic design consolidation and services will be continued till March 2015, while the detailed engineering and procurement and construction management activities is targeted for completion by December 2017.
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