Join our daily newsletter At The Bell to receive exclusive market insights
- Downer EDI’s (DOW) Asset Services business has been awarded a number of contracts, worth $324 million in total
- The contracts all span across the power generation, oil and gas, and industrials sectors
- They’ll also see Downer working with the likes of Santos, BHP, and Stanwell Corporation
- The company has ended the day a slight 1.9 per cent in the red, with shares trading for $4.14 each
Downer EDI’s (DOW) Asset Services business has been awarded a number of contracts, worth a total of $324 million.
These combined contracts span across the power generation, oil and gas, and industrials sectors.
Power generation sector
In the power generation sector, Downer has been awarded a four-year contract with Delta Electricity to provide major and minor outages and additional labour to the Vales Point power station in NSW.
Downer has also been contracted to install a refurbished Hitachi 500 megawatt stator for the Loy Yang B Power Station in Victoria.
Finally, the company has been awarded a contract with Stanwell Corporation for the inspection of six 350 megawatt generator rotors at its power stations in Queensland.
Oil and gas sector
In the oil and gas sector, Downer has received a three-year framework agreement with Santos regarding the supply of multi-discipline work across existing sites.
These works include structural, mechanical, and electrical work.
Additionally, the company has been awarded a one-year extension to its existing maintenance contract for the Darwin Liquified Natural Gas Facility.
Industrials sector
In the industrial sector, Downer has been awarded a two-year contract with BHP for the delivery of capital projects across its WA iron ore sites.
The company has also received a site services contract with Wesfarmers Chemicals, Energy and Fertilisers group, which concerns the supply of electrical maintenance and shutdowns over its WA and Northern Territory operations.
“Through our Asset Services business, Downer has an excellent track record of delivering installation, maintenance and shutdown services to our customers across Australia,” Downer CEO Grant Fenn said.
“These new and extended contracts are a strong endorsement of our capability as an asset management partner of choice and demonstrates the strength of our ongoing, long-term relationships with our customers,” he added.
Downer has ended the day, July 29, a slight 1.9 per cent in the red with shares trading for $4.14 each in a $2.509 billion market cap.
