Transfield signs grid contract worth up to half a billion dollars

Australian infrastructure specialist Transfield Services has extended its 15-year relationship with the New Zealand national grid operator Transpower for another six years, in a contract worth potentially half a billion dollars.

The $318 million contract holds out the prospect of another $180 million of work over the period, making its total potential value $498 million.

“The work includes major capital works projects and maintenance of the grid’s transmissions lines, substations, meters and transformers,” said Transfield chief executive Peter Goode in a statement.

Transpower is currently investing heavily in grid upgrades after an extended period of under-investment over the last 20 years.

(BusinessDesk)

BusinessDesk.co.nz

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