GR Engineering Services (ASX:GNG) said it has been appointed preferred contractor by Brightstar Resources (ASX:BTR) in relation to the engineering, procurement, and construction (EPC) contract for the Laverton plant in Western Australia, according to a Tuesday filing with the Australian bourse.

The contract, which is worth about AU$115 million, is subject to the achievement of the final investment decision and finalization of project funding, expected to be completed in March, the filing said.

GR Engineering Services shares rose nearly 3% and earlier reached an all-time high. Meanwhile, Brightstar Resources shares were up 3%.