SRG wins $120m contract extension
You can purchase access to this special report or subscribe to Business News.
Subscribe to Business News.
SRG Global has secured a $120 million contract extension from Transpower New Zealand for work on its high-voltage tower network.
The 10-year term maintenance contract valued at $121 million builds on SRG’s 30-year relationship with Transpower, a state-owned entity for electric power transmission.
Under the contract, SRG will provide specialist industrial services, including the removal of existing coatings through specialist blasting, application of protective coasting and minor steel replacement.
“We are excited to continue to build on our 30-year relationship with Transpower to affirm our industry-leading position for maintenance services in New Zealand,” SRG managing director David Macgeorge said.
“The contract renewal recognises SRG Global’s depth of talent in New Zealand, the excellent work our team performs in the energy sector and our ability to consistently apply innovation to the delivery of services across Transpower’s country-spanning national grid operating centres.”
SRG’s shares were trading up 4.96 per cent to 63.5 cents at 1:50PM AWST.