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Packer fund backs Arccon

THE James Packer-backed Ellerston GEMS Fund has acquired a 50 per cent stake in the commercial and mining construction business of Subiaco-based Arccon (WA) Pty Ltd, an affiliate of building company Zorzi Group. Arccon commenced its commercial design and construction business in late 2003. It has more than $300 million of commercial projects under contract and is currently providing mining design services to a Mid West iron ore company planning to embark on a multi-billion dollar mine development in 2008. Arccon’s founding managing director, Robert Wilde, said having the financial capital support from James Packer and Ellerston Capital would facilitate the company’s ability to take on major commercial and resource construction projects.

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