Fortescue builds Iron Bridge with SIMPEC

The Iron Bridge project is a joint venture between Fortescue subsidiary FMG Magnetite and Formosa Steel.

SIMPEC will provide vertical construction services for the works with a workforce of around 500.

SIMPEC is an engineering contractor subsidiary to WestStar Industrial Limited.

According to WestStar, the wet processing plant will require major module installation, tank installation, large bore piping, and supply and installation of electrical and instrumentation works.

The wet processing plant is a key part of Iron Bridge’s planned magnetite production rate of 22 wet million tonnes per annum.

SIMPEC managing director Mark Dimasi said the contract represents a major milestone after four years of being part of WestStar.

“This is an important milestone achievement for SIMPEC in the delivery of our company’s mission to deliver major projects in the industry,” Dimasi said.

“The award of the wet plant project represents our largest contract win to date with a first-tier client.

“To achieve this in just over four years of being part of the group is a remarkable achievement. It’s proof that our people and culture are building a reputable company that clients trust.”

Fortescue completed a technical and commercial assessment of Iron Bridge in May 2021.

The assessment resulted in a revised cost of up to $US3.5 billion ($4.7 billion) for the project.

FMG Magnetite owns 69 per cent of the project while Formosa owns the remaining 31 per cent.

“We look forward to further developing our relationship with the Iron Bridge joint venture and thank them for the opportunity to deliver such a high-profile project,” Dimasi said.

“Thank you to the team for their dedication and efforts in securing this major award. This contract will strengthen our position in the market and allow us to continue to take our business to a new level.”