GenusPlus Secures $55 Million Rio Tinto Substation Contract
2 min read
2:51pm on Wednesday 15th of July, 2026 AEST ~2pm, 15th July, 26
GenusPlus has landed a $55 million contract to build the 220kV Millstream Substation for Rio Tinto in WA's Pilbara, extending a key infrastructure partnership and boosting its FY2027 order book.
- $55 million contract for 220kV Millstream Substation
- Work starts immediately, completion expected mid-2028
- Project employs around 50 personnel in Pilbara region
- Contract awarded under existing Master Construction Agreement
- Strengthens GenusPlus’ relationship with Rio Tinto
Major Substation Project Boosts GenusPlus Order Book
GenusPlus Group Ltd (ASX:GNP) has secured a significant $55 million contract to construct the 220kV Millstream Substation expansion for Rio Tinto in Western Australia's Pilbara region. The project, located about 80km south of Karratha near Millstream-Chichester National Park, marks a substantial addition to GenusPlus’ infrastructure pipeline heading into FY2027.
Work on the substation will commence immediately, with an estimated completion date set for mid-2028. The contract will see GenusPlus deploy a project workforce of approximately 50 personnel, underscoring the scale and operational intensity of the build.
Extension of Master Construction Agreement
This contract award falls under the Master Construction Agreement (MCA) GenusPlus secured with Rio Tinto in March 2026. The MCA covers electrical, instrumentation, and controls works across Rio Tinto's Pilbara iron ore operations, including mines, ports, rail, and associated infrastructure. The three-year term agreement includes options for extension, providing GenusPlus with a steady pipeline of brownfields expansions and end-of-life replacements.
GenusPlus Managing Director David Riches highlighted the strategic importance of the contract, stating it strengthens the company’s longstanding relationship with Rio Tinto and is a key driver in converting a strong tender pipeline into confirmed orders. "We look forward to completing the works safely and on time," Riches said, signalling confidence in project delivery.
Positioning Amid Broader Growth and Diversification
The Millstream Substation contract complements GenusPlus’ recent expansion moves, including its acquisition of MPC Kinetic to enter gas and water markets, and a $110 million battery energy storage contract in South Australia. These developments collectively position GenusPlus as a growing player across multiple infrastructure sectors, from traditional energy and rail to emerging renewable projects.
While the contract value and timeline are clear, the filing does not disclose detailed financial terms beyond the headline figure or potential risks tied to project execution. Investors will be watching for quarterly updates on progress and any shifts in scope or scheduling that could impact earnings and operational capacity.
Bottom Line?
GenusPlus’ $55 million substation contract cements its role as a key Rio Tinto infrastructure partner, but project execution over the next two years will be critical to sustaining momentum.
Questions in the middle?
- How will GenusPlus manage operational risks over the multi-year substation build?
- What impact will this contract have on GenusPlus’ overall FY2027 earnings and margins?
- Will the Master Construction Agreement be extended or expanded beyond its current term?
