Fortescue inks gas agreement

Deal to cut costs, Monadelphous to build pipeline, Duet in capital raising.

Fortescue Metals Group (FMG) has inked a long-term gas transportation agreement for the delivery of gas at its Pilbara operations, with Monadelphous Group (MND) set to construct the pipeline.

In a statement to the Australian Securities Exchange, Fortescue said converting the 125 megawatt Solomon Power Station from diesel to gas is set to save approximately $US20 million per year.

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