Golding Contractors, a subsidiary of NRW Holdings, has secured two major contracts worth up to $195 million, underpinning its regional presence and boosting NRW's FY27 order book.
- Golding awarded $150 million Equipment Hire and Services Agreement with OneSteel
- New 3-year contract supports 60 local jobs in South Australia
- Rail diversion contract near Moranbah valued up to $45 million
- Projects strengthen NRW Holdings’ FY27 order book
- No significant capital expenditure required for OneSteel contract
Major Equipment Hire Contract Extends Golding’s South Australian Footprint
Golding Contractors, the wholly owned subsidiary of NRW Holdings Limited (ASX:NWH), has secured a substantial Equipment Hire and Services Agreement (EHSA) with OneSteel Manufacturing at the South Middleback Ranges Mine in South Australia. Valued at approximately $150 million over three years starting July 2026, this contract replaces previous arrangements following OneSteel’s voluntary administration, ensuring continuity of operations in the Eyre Peninsula region.
The agreement guarantees ongoing employment for around 60 local workers retained by Golding, while additional personnel required for mining operations will transition to OneSteel. The contract stipulates that Golding will supplement the existing on-site fleet with new equipment provided under a fully serviced plant hire arrangement, notably without requiring material capital investment during the term.
Rail Infrastructure Contract Near Moranbah Adds to Queensland Pipeline
In a separate win, Golding has been awarded a contract by Anglo American to construct a roughly 10.8-kilometre rail diversion and associated utilities infrastructure near Moranbah in Central Queensland. The project, valued between $41 million and $45 million, is scheduled for completion by March 2027 and will engage approximately 230 personnel.
NRW’s CEO Jules Pemberton highlighted the strategic importance of these contracts, stating that the Whyalla EHSA consolidates Golding’s 15-year presence in South Australia and provides a platform for growth in the region. He also emphasised Golding’s track record in delivering mining infrastructure projects safely and reliably to the Queensland resources sector, as reflected in the Anglo American contract.
Implications for NRW Holdings’ FY27 Outlook
These contract awards come amid NRW Holdings’ broader infrastructure and mining services expansion, complementing recent wins such as Fredon’s multi-state electrical and mechanical contracts. The new agreements bolster NRW’s order book heading into FY27, supporting revenue visibility and workforce stability across multiple regions.
While the OneSteel contract requires no material capital outlay, the scale and duration of these projects suggest steady operational activity and cash flow generation. Monitoring project milestones and workforce integration will be key to assessing their contribution to NRW’s financial performance in the coming year.
Bottom Line?
Golding’s twin contract wins anchor NRW’s regional strength and underpin its FY27 order book growth without heavy capital demands.
Questions in the middle?
- How will the workforce transition between Golding and OneSteel impact operational efficiency at South Middleback Ranges?
- What are the margin expectations for the rail diversion project near Moranbah given its mid-range contract value?
- Could these contracts lead to further expansions or renewals in South Australia and Queensland for NRW?