05/03/2019 - 15:32

Decmil JV set to win $375m contract

05/03/2019 - 15:32

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Decmil and joint venture partner McConnell Dowell have been announced as the preferred tenderer for the Mordialloc Freeway project in Victoria.

Decmil JV set to win $375m contract
Scott Criddle says the win follows other significant contracts in the past 12 months.

Decmil and joint venture partner McConnell Dowell have been announced as the preferred tenderer for the Mordialloc Freeway project in Victoria.

The two companies have been awarded an early works contract by Major Roads Projects Victoria, valued at $25 million and for immediate start, for detailed design services.

The main works are set to be awarded by the end of 2019, upon completion of environmental approvals, and are expected to be completed by the end of 2021.

The project primarily involves the construction of nine kilometres of freeway to link the Mornington Peninsula Freeway to the Dingley Bypass, which will create continuous freeway from Frankston to Clayton.

In total, the project is estimated to cost around $375 million.

Decmil chief financial officer Craig Amos said the Osborne Park-based engineering contractor and McConnell Dowell were currently finalising the joint venture equity split.

Mr Amos said the equity split would likely be finalised by next week.

Decmil managing director Scott Criddle said the company was extremely pleased to be appointed preferred tenderer.

“For Decmil this step forward in the transport infrastructure sector and follows other significant projects in the last 12 months including the Drysdale Bypass, Warncoort and Plenty Road projects in Victoria,” he said.

Last week Decmil posted a first-half net profit of $5.8 million, compared with the same period a year ago where it lost $6.3 million over the half year.

Shares in Decmil were up 1.72 per cent to trade at 88 cents each.

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