UGL snares $190m BP contract

UGL and BP are setting up a joint venture that will carry out maintenance work at the fuel giant's Australian terminals.

UGL has snared a $190 million joint venture contract to maintain BP's 17 fuel terminals across Australia.

UGL says the three-year contract involves a 50:50 joint venture between it and BP, and could be extended for another three years.

The joint venture will carry out all engineering, maintenance and project works at BP's fuel terminals.

UGL shares were eight cents, or 3.5 per cent higher, at $2.39 at 1120 AEST.

Source AAP

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