NewsStocksDuratec wins $70 million in energy, marine and mining infrastructure contracts

Duratec wins $70 million in energy, marine and mining infrastructure contracts

Author: The Market Online Australia·

Key Takeaways

  • Duratec won a construction management contract at Orica’s Hunter Valley Hydrogen Hub in New South Wales.
  • The hydrogen hub award was accompanied by three other contract wins across Duratec’s energy, marine, and mining and industrial sectors.
  • The four contracts together are valued at approximately $70 million.
  • Chris Oates said the new work supports Duratec’s expansion into future energy and fuel infrastructure markets.
  • Duratec said its recent Hunter Region acquisitions have strengthened its local workforce, supply chain access, and project delivery capability.
Duratec wins $70 million in energy, marine and mining infrastructure contracts

Duratec (ASX:DUR) has added to a series of recent contract wins with the award of a construction management contract at Orica’s Hunter Valley Hydrogen Hub (HVHH) in New South Wales.

The new work comes alongside three additional contract awards across Duratec’s core energy, marine and mining & industrial sectors. Together, the four contract awards have a combined value of approximately $70 million.

Managing director Chris Oates told shareholders that the HVHH contract is an important step in Duratec’s expansion into future energy and fuel infrastructure markets, and that it positions the company to support the broader energy transition and decarbonisation of industrial operations.

He said the award also builds on Duratec’s recent acquisitions in the Hunter Region, which have established a local workforce, supply chain access and delivery capability in a critical energy corridor. That, he said, enhances the group’s ability to self-perform and capture greater value across the project lifecycle.

“The Hunter Valley Hydrogen Hub is an important project within Australia’s emerging hydrogen industry, and we are pleased to partner with Orica to support its delivery,” Mr Oates said.

“This award reflects Duratec’s ongoing expansion into the energy and decarbonisation sector, building on our recently established presence in the Hunter Region and demonstrating our ability to deliver complex infrastructure projects through a combination of self-perform and local capability.”

In addition to the HVHH award, Duratec has landed contracts for:

DUR was steady at $2.28 with a market capitalisation of $588.6 million before markets opened.

The material in this article is for information only and should not be treated as investment advice. Readers should conduct their own research and consult a certified financial adviser before making any investment decisions.