Strabag, Rio Tinto Sign Partnership Agreement for Tunnel, Shaft Drilling System
02/22/2013| 05:12am US/Eastern
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VIENNA-- Austrian construction company Strabag SE (STR.VI) and Australian mining company Rio Tinto have signed an agreement for a long-term partnership in research and development of Rio Tinto's new tunnel- and shaft-drilling systems, Strabag said Friday.
MAIN FACTS:
-From 2012 to 2014 in the first phase of the two-phased partnership, Strabag will test and help to optimize Rio Tinto's new technology in tunnel and shaft drilling systems at selected construction sites worldwide.
-Currently tests are being conducted at a mine in Australia and are planned for a mine in the U.S. in Salt Lake City. Further testing sites are under consideration, Strabag added.
-After successful completion of the test construction sites, the partnership will move into the second phase: For five years, Strabag will exclusively carry out all of Rio Tinto's construction projects using the new systems.
-Strabag said it is a new entry for the company into the "mechanical propulsion in the mining industry" business segment.
Write to the Vienna Bureau at nicole.lundeen@dowjones.com
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