The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Downer has been awarded a five-year extension on its $350 million gas services contract with AusNet Services
  • Downer will provide operations, maintenance, capital works and 24/7 emergency response for AusNet’s gas distribution network
  • The company has been awarded numerous contracts in the past year
  • Last month, AusNet awarded Downer with a $600 million contract for its electricity distribution network

Downer EDI just announced it has been awarded a five-year extension on its gas services contract with AusNet Services. The contract is worth approximately $350 million.

The contract extension will see Downer continue to provide operations, maintenance, capital works and 24/7 emergency response for AusNet’s gas distribution network.

Downer is a leading provider of a vast range of services in Australia and New Zealand. The company provides services for industries including transport, infrastructure, energy, utilities, defence, mining, and more.

Downer’s CEO Grant Fenn, said Downer was the leader in end-to-end services and
solutions for utility assets.

Downer has been awarded a significant amount of contracts, proving its ability to deliver high-quality and cost-effective services to its customers.

In December 2018, Downer and JV partner CPB Contractors, the New South Wales Government awarded them an infrastructure works contract for the Parramatta Light Rail Project. The company reported it’d generate a revenue of $420 million from this contract alone.

In April 2019, Downer was one of six companies (the Link Alliance) to be awarded the NZ$4.4 billion Auckland City Rail Link contract.

More recently, AusNet awarded Downer a $600 million contract to provide operational and maintenance services to its entire electricity distribution network for a five-year term.

Downer is pleased to be continuing and strengthening its relationship with AusNet.

“Downer has managed AusNet’s entire gas distribution network since 2013 and we are pleased to be growing our long-term partnership. This extension demonstrates our ability to bring world-leading insights and solutions that deliver cost-effectiveness, safety, and reliability for our customers,” Grant said.

Extended works on the gas services contract will commence in April 2021.

DOW by the numbers
More From The Market Online

Market Close: ASX signs off on a sigh with all sectors red-lining

The ASX200 finished 1.3 per cent down with every sector in the red and Industrials and Real Estate brittle and bruised as bot…
The Market Online Video

Market Update: ASX on red alert with all sectors below the surface

The ASX200 is trading down around 1.1% with all eleven sectors in the red. Real-estate has…

BHP confirms £31.1B takeover bid for Anglo American

BHP HAS confirmed its offer to takeover fellow mining giant Anglo American plc, following press speculation…