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Iron Road Ltd ( (AU:IRD) ) has issued an update.
Iron Road Ltd, a company listed on the Australian Securities Exchange (ASX: IRD), has announced that Mullaquana Station has been selected as the site for a desalination plant as part of the Northern Water Project. This decision, reported by The Advertiser, marks a shift from the previously preferred site at Cape Hardy and follows a comprehensive analysis of regional industrial opportunities and various socio-economic factors. The final investment decision for the $5 billion project is expected by the end of 2026, and while the choice of Mullaquana was anticipated, it is seen as a disappointment for those who supported Cape Hardy.
More about Iron Road Ltd
YTD Price Performance: -32.20%
Average Trading Volume: 158,347
Technical Sentiment Signal: Sell
Current Market Cap: A$33.29M
Learn more about IRD stock on TipRanks’ Stock Analysis page.