Thursday 30 Nov 2023
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KUALA LUMPUR (Dec 22): Gamuda Bhd via Gamuda Australia has bagged a major road transport project from the New South Wales (NSW) government worth A$1.029 billion (RM3.03 billion).

A 60:40 joint venture (JV) of John Holland and Gamuda Australia was awarded the contract to deliver the Black Hill to Tomago Package of Works for the M1 Motorway Extension to Raymond Terrace.

The works include 10km of greenfield dual carriage highway between the M1 Motorway at Beresfield and Tomago, major interchanges at Black Hill, Tarro and Tomago, and the construction of nine bridges, including a viaduct approximately 2.6km long across the Hunter River and floodplain.

In a Bursa Malaysia filing on Thursday (Dec 22), Gamuda said the construction group expected a revenue of RM1.21 billion from the project.

The project, scheduled to begin in mid-2023, will create social benefit initiatives within the local community and wider Hunter Region of NSW during construction.

“The most complex portion of the project is the 2.6km viaduct which spans the floodplain and provides a new crossing over the Hunter River.

“Delivery risks will be mitigated through comprehensive geotechnical investigations and using well-established techniques of piling and bridge component installations used commonly in Australia,” said Gamuda.

In addition, the project is expected to contribute positively to the group’s revenue and earnings for the financial year ending July 31, 2023.

Trading in the securities of Gamuda and its warrants has been halted from 11.18am to 2.30pm on Thursday. Gamuda was last traded at RM3.66, with a market value of RM9.57 billion.

Edited BySurin Murugiah
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