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Flowtech wins upgrade contract for Ireland's Rice Bridge
(Sharecast News) - Flowtech Fluidpower announced on Wednesday that it has won a €4.5m contract to upgrade Rice Bridge in Waterford City, the Republic of Ireland, with work focused on modernising the bridge's mechanical and electrical systems. The AIM-traded firm said the 15-month rehabilitation project would be followed by a further 12-month period to address any remaining issues.
It said the contract, officially signed on 13 June in the presence of government ministers and local officials, would involve the overhaul of the bridge's 'MEICA' systems - mechanical, electrical, instrumentation, control and automation.
The infrastructure, first opened in 1984, is a key transport link in the region, serving commercial traffic, public transport and emergency services.
Funding for the project was being provided under Ireland's Strategic Grant scheme for local and regional roads, with an initial €1.5m allocated for 2025.
"This crucial rehabilitation project is a proud moment for everyone in Flowtech," said chief executive officer Mike England.
"Our extensive experience in bridge design and repair makes Flowtech the perfect match for this project, and I look forward to seeing what our superb engineering teams can accomplish over the next two years."
At 1356 BST, shares in Flowtech Fluidpower were up 4.82% at 65.2p.
Reporting by Josh White for Sharecast.com.
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