Malthus wins $50m accommodation rental contract in Canada
18 March 2010
Norwegian company Malthus has won a NOK 300 million (€37.5 million) temporary accommodation rental contract in Canada with Brazilian mining company Vale.
Malthus will build a camp for 1000 workers in Newfoundland on the East coast of Canada for a period of three years, with the option to extend the contract by two years. The total space provided will be 4500 m2.
The first part of the camp will be complete by this summer, with the entire site finished by the end of 2010. Malthus is partnering with Canadian company Compass Group, who will deliver food and support services for the camp.
The accommodation will be of a high quality, with bedrooms equipped with flat screen televisions and bathrooms. The camp will also include canteens as well as modern common rooms.
Vale Inco - the Brazilian-Canadian mining business formed when Vale bought Inco in 2006 - has extensive nickel, copper and cobalt operations in Newfoundland.
Malthus said one benefit of the contract would be to generate jobs at Moelven, the Norwegian sub-contractor who will build the accommodation units. "As a consequence all workers that have been laid off at Moelven will get their jobs back", said Malthus.
In addition to renting accommodation, Malthus also has an aerial platform sales division. The company, which had revenues of NOK 750 million (€94 million) in 2009, operates in Norway, Sweden, Russia, Estonia and Canada.