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Downer EDI (ASX:DOW) - CEO, Grant Fenn - The Market Herald
CEO, Grant Fenn
Source: Herald Sun
  • Downer EDI (DOW) has won contracts from the South Australian Government Department of Planning, Transport and Infrastructure for road maintenance
  • The contracts are valued at $420 million and are valid for up to 13 years
  • The commitments will begin on November 2, with an initial seven-year term and two extension options
  • Since 2003, Downer has maintained South Australian roads
  • On market close, Downer remains steady and is trading for $4.44 each

Downer EDI (DOW) has won contracts valued at $420 million for up to 13 years for South Australian road maintenance.

The contracts were awarded by the South Australian Government Department of Planning, Transport and Infrastructure (DPTI). The contract also outlines provisions for additional capital works.

The contracts will begin on November 2, with an initial seven-year term and two extension options for three years

Since 2003, Downer has been maintaining South Australian roads.

CEO Grant Fenn said the new contracts will expand Downer's service to DPTI and will maintain 8500 kilometres of roads in South Australia's Metropolitan Zone and Regional North Zone.

"Currently, Downer is providing maintenance and emergency road services to DPTI, but under these new contracts Downer will also deliver a range of other services including maintenance of intelligent transport systems, management of
third party works and minor capital improvements," he said.

"Overall, Downer will deliver reliable road networks to ensure efficient and safe journeys and also provide opportunities for local service providers and suppliers," Grant added.

On market close, Downer remains steady and is trading for $4.44 each.


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