GenusPlus Group (ASX:GNP) retained a buy rating from Euroz Hartleys after the company disclosed a two-part contract for the North West Transmission Developments (NWTD) Stage 1 project with Tasmanian state government-owned firm TasNetworks, according to a Tuesday note from the financial services firm.
Part one of the contract involves the early contractor involvement phase of the project with a total value of AU$42 million for the design, procurement, and construction of 220-kilovolt transmission lines, construction of the Heybridge switching station, and the augmentation of transmission lines at three substations.
The construction phase of the contract is still subject to a final investment decision, planning and environmental clearances, and a revenue determination from the Australian Energy Regulator.
Shares of the company rose almost 4% in recent Friday trade.
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