Duratec Says JV Secures AU$281 Million Contract for HMAS Stirling Infrastructure Upgrade; Shares Up 6%

MT Newswires Live

Apr 15

Duratec (ASX:DUR) said its 50:50 joint venture (JV) with Ertech has secured a AU$281 million contract to deliver key infrastructure upgrades at HMAS Stirling on Diamantina Wharf at Garden Island, Western Australia, according to a Wednesday filing with the Australian bourse.

The company said that early site works valued at AU$9.2 million started in January, alongside around AU$5 million in long-lead procurement, as the design reached near completion and received final approval, per the filing.

The main works contract, with a duration of around 24 months, concludes the early contractor involvement phase and moves the Duratec-Ertech JV into full delivery, bringing the total contract value to just under AU$300 million, the filing added.

The company's shares rose past 6% in recent Wednesday trade.

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