06/11/2015 - 12:28

Otoc in second Nauru win

06/11/2015 - 12:28

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Osborne Park-based contractor Otoc has continued its move into defence-related work, winning approval for a $13 million contract on Nauru.

OTOC chief executive Simon Thomas.

Osborne Park-based contractor OTOC has continued its move into defence-related work, winning approval for a $13 million contract on Nauru.

It follows the August award of $16 million for a civil infrastructure project on Nauru from private company Canstruct, which included installing a permanent settlement village, hospital and school facilities.

The latest contract is for ongoing works, although the company didn’t specify what that might include.

Otoc chief executive Simon Thomas said the win was consistent with its new business strategy, announced in July.

“Otoc’s infrastructure division has been repositioned to focus on strategic projects in the civil infrastructure and government sectors,” he said.

“This award is a reflection of the confidence in Otoc Australia’s ability to deliver on-time and on budget quality services to key clients.

“Otoc Australia has a secured order book of circa $43 million for FY2016, with major projects at Nauru Island, Perth Airport and Sandfire DeGrussa solar under way.”

Otoc was unchanged at 17.5 cents per share at the time of writing, from lows of just more than 7 cents in July.

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