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Coalspur Mines Limited ("Coalspur" or "Company") (ASX:CPL) (TSE:CPT) announces that its preferred supplier of engineering, procurement and construction ("EPC") services has been changed to Sedgman Limited (ASX:SDM)
In June 2013 Coalspur announced that Taggart Global (later re-named Forge Group North America, "Forge") had been selected as the Company's preferred EPC contractor for the Vista project ("Vista"). Forge has been a very strong partner for Coalspur over the past nine months. However, following the placing of Forge's parent company into administration and, more recently, liquidation, Coalspur completed a detailed process of assessing alternative EPC providers and the Board of Coalspur approved the transition to Sedgman, effective immediately
Sedgman participated in Coalspur's 2013 competitive front-end engineering and design ("FEED") process for Vista and is ideally positioned to step into the role of lead EPC contractor. Sedgman will commence transition work immediately, led by its Vancouver-based team
Sedgman's selection as the EPC contractor for Vista is predicated, among other things, on its world class abilities, willingness to stand by Vista's announced capital budget and development schedule, and agreement on key commercial terms. A detailed EPC contract for Vista is anticipated to be finalized in line with Vista's overall development timeline
"I would like to thank the employees at Forge for their professionalism, exceptional effort and engagement during the past nine months" said Gill Winckler, Coalspur President and CEO. "However, today's decision has been made to provide certainty for Coalspur. We have the utmost confidence in Sedgman; their team is well known to us and they are clearly a world class provider of coal processing and mine infrastructure."
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