Macmahon Contractors and Thiess have been named preferred proponents to deliver a roads upgrade project in New South Wales the federal government says will cost $762 million.
Federal Infrastructure and Transport Minister Anthony Albanese said the upgrade of the Pacific Highway was the most expensive and complex road project ever undertaken in Australia.
The works announced today comprise the construction of a 25.8 kilometre four-lane divided carriageway between Frederickton and Eungai.
Macmahon, which has a 40 per cent interest in the joint venture, said: "the value of the contract, to be confirmed upon finalisation, will be significantly less than the amount announced by the NSW and federal governments today, which refers to the whole project value".
Thiess said the contract would be signed in December, and expected it to be in the order of $450 million.
AT 10:20AM, WST, Macmahon shares were up 1.75 per cent, trading at 29 cents.
