Downer EDI & its JV win contracts worth NZ$1 billion revenue

Company News

by Jessica Amir

Downer (ASX:DOW) and its joint venture company, the Link Alliance, have won New Zealand Government contracts that will generate over NZ$1 billion in revenue for the company.

The service provider’s JV, The Link Alliance won a City Rail Link contract (the C3 alliance contract), which is the largest package of work for the NZ$4.4 billion Auckland City Rail Link project.

The contract involves building two new railway stations (near Aotea Square and Karangahape road) in Auckland central, redeveloping the railway station at Mount Eden and the tunnels connecting them. The JV is between Downer, Vinci Grands Projects, Soletanche Bachy, AECOM, Tonkin + Taylor, and WSP Opus.

Separate to the JV deal, Downer as the standalone entity, was earmarked as the preferred supplier to maintain three stations, in the Auckland City Rail Link project, for up to 30 years.

Shares in Downer EDI are trading 0.7 per cent higher at $7.76.
 

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.