MagIndustries has signed a construction engineering supervision contract with Changsha Huaxing Construction Supervision (CHCS) to supervise engineering work related to the MagIndustries’ proposed 1.2Mtpy Mengo Potash Project in the Republic of Congo.
CHCS will supervise engineering work on the seven major work modules — brine extraction and transportation, processing plant, compaction plant, thermal power plant, office/living quarter, off-plant works and loading jetty — and thirty-eight installations/systems of the project. CHCS may be assigned other work related to the project subject to agreement between the parties.
The contract comes into effect immediately, and terminates in September 2015 or the date of mechanical completion of the project. The contract provides CHCS a remuneration of USD 5.7M, plus a potential performance bonus of USD 815,000 based on the timeliness and quality of work.
