NRW Holdings Limited (ASX: NWH) has been awarded approximately $270 million in new contracts across Western Australia, spanning mining, road infrastructure, and marine works. The Company confirmed the awards in an ASX announcement dated 3 February 2026, with Project execution scheduled to begin in early 2026.
The contracts include a $175 million bulk earthworks package for Rio Tinto’s West Angelas Sustaining Project (WASP) – Deposit H, alongside a $46 million road reconstruction contract for Main Roads Western Australia and a $49 million marine infrastructure package for Pilbara Ports. Collectively, the awards strengthen NRW’s forward order book and extend revenue visibility into 2027.
Heavy earthmoving equipment at an iron ore operation in Western Australia’s Pilbara region, where NRW has secured a $175 million bulk earthworks contract. (Source: International Mining)
Importantly, the Company stated there is no material capital outlay required in relation to the three awards, as all are civil contracts delivered within NRW’s existing operating capability.
Rio Tinto WASP – Deposit H
The largest contract relates to Rio Tinto’s West Angelas operation in the Pilbara, where NRW will deliver bulk earthworks to enable access to five new satellite mining pits under the West Angelas Sustaining Project.
The scope of works includes:
- Construction of haul roads to new satellite pits
- Concrete overpass arch construction
- Associated supporting infrastructure
- Establishment of site access works
The contract is valued at approximately $175 million, with a peak workforce of around 220 personnel expected during execution. Works are scheduled to commence in early 2026 and conclude in 2027.
The award continues NRW’s long-standing partnership with Rio Tinto at West Angelas, one of the established iron ore hubs in Western Australia’s Pilbara region. Sustaining Projects such as WASP are designed to maintain production continuity and operational efficiency at existing mining operations.
Toodyay Road Reconstruction and Realignment
NRW’s wholly owned subsidiary, NRW Contracting Pty Ltd, has been selected by Main Roads Western Australia for the “construct only” contract covering the reconstruction and realignment of Toodyay Road between Dryandra and Toodyay.
The Toodyay Road upgrade Project aims to improve safety and traffic efficiency through realignment and overtaking lane construction. (Source: Building For Tomorrow)
The initial award covers Separable Portions 1 and 2, valued at approximately $46 million.
The Project is designed to improve road safety and transport efficiency through enhancements to vertical and horizontal alignment. Key works include:
- Realignment of Toodyay Road at Jimperding Brook
- Multiple intersection upgrades
- Addition of overtaking lanes
- Seal and shoulder widening
- Removal or protection of roadside hazards
- Improved signage and road markings
Construction and procurement activities are expected to begin in early 2026, following contract execution. The award reinforces NRW’s presence in government-funded infrastructure delivery across regional Western Australia.
Dampier Link Bridge – Pilbara Ports
NRW Contracting, in a 50:50 joint venture with Brady Marine and Civil Pty Ltd, has been awarded Stage 2 of the Dampier Cargo Project by Pilbara Ports.
The contract, valued at approximately $49 million to the joint venture, involves the design and construction of the Dampier Link Bridge. The new structure will create a continuous wharf connection between the refurbished Dampier Cargo Wharf and the new Dampier Bulk Handling Facility.
The Dampier Link Bridge will connect existing and new port infrastructure, supporting Pilbara Ports’ direct shipping strategy. [Mining.Com]
The Dampier Link Bridge forms part of Pilbara Ports’ strategy to strengthen and expand direct shipping services to the Pilbara region. Design and procurement are expected to commence in early 2026, with a Project duration of approximately 12 months.
Strategic and Industry Context
The three awards reflect ongoing capital investment across Western Australia’s mining and infrastructure sectors. Sustaining capital expenditure in the Pilbara remains a key feature of iron ore operations, supporting production continuity at established assets. At the same time, state government and port authorities continue to invest in transport and marine infrastructure to enhance safety, capacity, and export efficiency.
NRW’s diversified exposure across mining services, civil construction, and marine infrastructure provides revenue balance across private resource clients and public sector agencies. The Company operates across more than 200 Projects in Australia, Canada, the United States, and New Zealand, employing approximately 11,500 personnel.
Its service capability spans bulk earthworks, road and rail construction, concrete installation, contract mining, drill and blast services, minerals processing, maintenance, and electrical and mechanical infrastructure delivery.
Market Implications for Investors
NRW Holdings shares closed at $5.420, up $0.250 (4.835%), following the announcement. Trading volume reached 782,657 shares, with a bid-offer range of $5.410 to $5.420, indicating steady demand at prevailing levels. The Company has a market capitalisation of approximately $2.37 billion.
NRW Holdings shareprice [ASX]
For investors and analysts, the contract wins enhance forward revenue visibility into FY26 and FY27 without requiring additional capital investment. The Rio Tinto award reinforces NRW’s exposure to Tier 1 mining clients in the Pilbara, while the Toodyay Road and Dampier Link Bridge Projects broaden its government and marine infrastructure portfolio.
The diversified nature of the awards supports earnings resilience across commodity and public infrastructure cycles, positioning the Company to benefit from continued investment in Western Australia’s resources and logistics networks.
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Outlook
With construction and procurement activities scheduled to begin in early 2026, NRW enters the new calendar year with strengthened backlog depth across multiple sectors. The latest awards underscore sustained activity in the Pilbara’s iron ore industry and continued government investment in transport and port infrastructure.
Further updates are expected as Project mobilisation progresses and execution milestones are achieved through 2026 and 2027.
