Seymour Whyte awarded contract to upgrade VIC highway

Company News

by David Chau

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.

David Chau

Finance News Network
David joined FNN in April 2016. In addition to presenting the Market Outlook and latest business news stories, David interviews senior economists and CEOs of ASX-listed companies. Prior to working for FNN, David was a litigation lawyer.