KUALA LUMPUR (Sept 10): Gamuda Bhd (KL:GAMUDA) said in a statement on Thursday that it has completed and delivered its first road transport project in Australia ahead of schedule.
The A$1.029 billion (RM3.03 billion) project, which was awarded in 2022 to a 60:40 joint venture (JV) between the group's Australian subsidiary Gamuda Australia and John Holland, involves designing and constructing a 10-kilometre section of road from Black Hill to Tomago.
The road forms the southern portion of the broader 15-kilometre M1 Pacific Motorway extension to Raymond Terrace.
In 2022, the group said it expected to generate RM1.21 billion in revenue from the project.
The entire motorway is scheduled to open to traffic in September 2026, 18 months earlier than the original planned opening in March 2028.
In a separate joint statement by Australian Prime Minister Anthony Albanese, Premier of New South Wales Chris Minns, minister of infrastructure, transport, regional development and local government Catherin King and New South Wales minister for roads and regional transport Jenny Aitchison, they said the new 15-kilometre motorway connection between Black Hill and Raymond Terrace closes a missing link in the Sydney to Brisbane economic corridor and strengthens one of Australia’s most important freight routes.
The new motorway will provide a direct connection between the M1 at Black Hill and Raymond Terrace, improving access to jobs, businesses, communities and major regional infrastructure, including Newcastle Airport and the Port of Newcastle.
For motorists, the motorway is expected to cut travel times by seven to nine minutes during peak hours and remove up to 25,000 vehicles a day from local streets.
For freight, it will provide a faster and more reliable connection through the Hunter region and along the Sydney-to-Brisbane corridor.
Since expanding into Australia in 2019, Gamuda has scaled up its operations through primary hubs in Sydney and Melbourne, integrating global engineering expertise with top-tier local talent.
Beyond the M1 Motorway extension, Gamuda's diversified portfolio focuses on rail, tunnelling, stations and renewable energy. The group is also currently delivering the major Coffs Harbour Bypass Project.
Gamuda shares closed down one sen or 0.2% to RM4.91 on Thursday, valuing the company at RM29.7 billion.