The Victorian state government has awarded construction company, Seymour Whyte Ltd (ASX:SWL), a contract to upgrade the Chandler Highway in Melbourne.
The Victorian minister for roads, Luke Donnellan MP, said in a media release that the upcoming construction works will “remove two notorious bottlenecks” along that highway.
In fact, Mr Donnellan said the Chandler Highway is one of Melbourne’s worst traffic “pinch points” for the 44,000 drivers who travel along it every day.
Seymour Whyte says the design and construct contract is worth $55.9 million, and construction is expected to being in mid-2017.
Seymour Whyte posted a net profit of $1.3 million at 30 June 2016.