KUALA LUMPUR (Sept 28): Gamuda Bhd (KL:GAMUDA) said on Monday it secured an A$790 million (RM2.28 billion) engineering, procurement and construction (EPC) contract in Australia to develop the first stage of the Mortlake Energy Hub.
In a bourse filing, Gamuda said its indirect wholly owned Australian subsidiary Gamuda Engineering Pty Ltd entered into the EPC contract with MEH SubCo Pty Ltd, as trustee for the MEH Project Trust.
The contract covers the design, procurement, construction, installation, testing and commissioning of the facility, which will comprise a 435MWp solar farm and a 1,449MWh battery energy storage system (BESS).
Gamuda said the parties also expect to enter into a separate operation and maintenance contract worth A$45 million (RM130 million) within one month.
The Mortlake Energy Hub is a 300MW hybrid renewable energy facility located on a 1,060-hectare site in southwest Victoria, Australia.
The facility will connect to the existing 500kV network through the Mortlake Terminal Station.
Gamuda said the EPC contract has a duration of two years, with completion targeted for January 2029.
Gamuda Engineering will commence project enabling works on Tuesday, Sept 29, following the issuance of a limited notice to proceed.
The full notice to proceed is subject to the project achieving financial close, which is targeted for the fourth quarter of 2026, Gamuda said.
The latest contract marks the third contract Gamuda has secured in Australia this month.
On Sept 21, the group and Australian construction company BMD Constructions Pty Ltd secured an A$624 million (RM1.8 billion) contract to upgrade two roads in Western Sydney.
Earlier this month, Gamuda also secured the A$880 million (RM2.54 billion) Sydney Metro West-Parramatta Integrated Station Development project, in which it has an 80% effective participation.
The project involves the design and construction of the future Parramatta Metro Station and related infrastructure, and marks the sixth station along the Sydney Metro West alignment to be delivered by Gamuda’s Australian operations.
Shares of Gamuda were unchanged at RM4.88 at the midday break on Monday, giving it a market capitalisation of RM29.5 billion.