Downer wins State Highway 5 contract

Downer EDI said it had won new orders, including work on State Highway 5, worth more than A$300 million (NZ$372 million).

The State Highway 5 contract covers three-years of maintenance, resurfacing and emergency response winter services.

Long-term road works “further strengthen Downer’s recurring revenue base and validate the Group’s Asia-Pacific strategy,” Managing Director Geoff Knox said in a statement to the stock exchange.

Since February, the group has secured more than A$1 billion of work and is in a preferred position on more than A$3.5 billion of projects which it expects to be awarded in the next few months.

Knox said Downer had over A$16 billion of work-in-hand, excluding preferred position status and continued to see a strong pipeline of tendering opportunities across all sectors.

Businesswire.co.nz

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