GCS wins contracts worth $25m

Global Construction Services has today secured two contracts, totalling $24.6 million, in Victoria.

The two projects, for concrete structure works, are the Law School Building at Deakin University and a data centre project.

The contracts include the installation of precast panels, post tensioning, reinforcement and all other concrete structure works.

Post-tensioning work components for each project have been subcontracted to proposed merger partner SRG.

Both projects are anticipated to commence during the first quarter of 2019 and be completed within nine months.

“These contract awards highlight the considerable progress GCS has made,” GCS group managing director Enzo Gullotti said.

“With a contract tender pipeline exceeding $600 million, GCS Summit is well placed to deliver substantial contributions to GCS earnings into the future.”

The share price has remained fairly stable, moving up only 1.5 per cent since the announcement.