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Provider: Reuters Investment Profile
Provider: Wright Reports
Provider: GlobalData
Provider: GlobalData

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Peab AB Enters into SEK 1.5 Billion Agreement with Scania AB for 400 Truck-and-Trailer Purchase; Trucks Northland Resources SA's Iron Ore Product

Thursday, 6 Sep 2012 12:40am EDT 

Northland Resources SA announced that its contractor, Peab AB (Peab), has entered into a SEK 1.5 billion agreement with Scania AB (Scania) for the purchase of 400 truck-and-trailer combinations and services during a nine-year period. The rigs are optimized for gross weights of up to 90 tons. Northland Resources SA is forecast to start production of high-grade iron ore concentrate in the fourth quarter of 2012, and to start shipping the product to its customers in early 2013. Peab, through its subsidiary Swerock, will be responsible for trucking Northland Resources SA's iron ore product 150 kilometers from the mine site in Kaunisvaara to Pitkajarvi, where the product will be reloaded on rail wagons for further transportation to the deep-water and ice-free port in Narvik, Norway. The agreement will commence in late 2012 and be effective until 2021. Besides delivering the truck combinations, Scania will be responsible for driver training and coaching, vehicle monitoring, maintenance, repairs, service and supplies. Scania has also agreed to meet Northland Resources SA's requirement to continually reduce the cost per ton transported during the nine-year period. The products and the services are tailored to the mining industry's demands in respect of load capacity, uptime and delivery precision. 

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