Total
0
Shares
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Surveying company Veris (VRS) has been awarded a contract to provide survey support to John Holland for the Sydney Metro station development
  • This development consists of five buildings, including three towers and two mid-rise buildings neighbouring the station
  • It is expected that over 2000 jobs will be created and, once completed in 2024, the area will have an end value close to $1 billion
  • Veris will provide its full suite of surveying services such as property and detail surveys, as well as site construction support
  • Veris has ended the day 3.23 per cent in the green with shares trading for 3.2 cents each

Surveying company Veris (VRS) has been awarded a contract to provide survey support to John Holland for the Sydney Metro station development.

John Holland is one of Australia’s leading construction companies. It has been involved in projects such as the expansion of terminal two at Melbourne Airport, increasing the size of the MCG, and the new Perth Children’s Hospital.

This development consists of five buildings, including three towers and two mid-rise buildings neighbouring the station.

It is expected that over 2000 jobs will be created and, once completed in 2024, the area will have an end value close to $1 billion.

Veris will be providing its full suite of surveying services such as property and detail surveys, as well as site construction support.

Further, the company will also be providing 3D modelling and laser scanners in areas that are difficult to reach when using traditional equipment.

As a result of this work, Veris is expected to receive $1 million over the next three years.

This win highlights Veris’ relationships with large engineering contractors on major infrastructure and development projects.

It also adds on to Veris’ rapidly expanding portfolio of projects.

Some notable works the company has done include the Gold Coast Airport upgrades, as well as the waste-to-energy facility and the Mt Fyans Windfarm in Victoria.

“We are extremely pleased to be continuing our relationship with John Holland by providing our services on another landmark development for Sydney Metro,” Veris CEO Michael Shirley commented.

“Our current pipeline of work, including recent significant awards, creates a strong position for Veris and shows we will be well-positioned once the economy bounces back and infrastructure activity fully recovers,” he said.

Veris has ended the day 3.23 per cent in the green with shares trading for 3.2 cents each in a $12.56 million market cap.

VRS by the numbers
More From The Market Herald

" Orbital Corporation (ASX:OEC) to assist Skyways with US Navy platform

Orbital Corporation (OEC) has signed Texas-based cargo transport company Skyways as its newest customer.

" Orcoda (ASX:ODA) celebrates positive cashflow and higher earnings

Orcoda (ODA) has experienced its fifth consecutive cashflow positive quarter for the three months ending September 30 2021.
DroneShield (ASX:DRO) - CEO, Oleg Vornik

" DroneShield (ASX:DRO) tables mixed results in September quarter

DroneShield (DRO) has tabled its September quarterly report and revealed a mixed bag of results.

" Roto-Gro (ASX:RGI) files three international patent applications

Roto-Gro International’s (RGI) subsidiary has filed three international applications under the patent cooperation treaty.