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- WestStar Industrial’s (WSI) engineering contractor business SIMPEC has been awarded extensions for the WestConnex New M5 Project in NSW
- SIMPAC was first awarded the contract in mid-June by the CPB Dragados Samsung Joint Venture (JV)
- This initial contract was for $2 million and the extension adds another $2 million to the deal, bringing the new total to $4 million
- The project includes the King Georges Road Interchange Upgrade, the New M5 twin tunnels, and the St Peters Interchange
- This is set to significantly reduce travel time, double capacity, and allow better air circulation through the M5 tunnels
- WestStar is up a healthy 18.8 per cent and shares are trading for 1.9 cents each just before market close
WestStar Industrial’s (WSI) engineering contractor business SIMPEC has been awarded extensions for the WestConnex New M5 Project in NSW.
SIMPEC was first awarded the contract in mid-June by the CPB Dragados Samsung Joint Venture (JV).
This initial contract was for a sum of $2 million and the extension is for another $2 million, bringing the new total to $4 million.
The WestConnex New M5 Project includes the King Georges Road Interchange Upgrade, the New M5 twin tunnels, and the St Peters Interchange.
This is set to significantly reduce travel time, double capacity, and allow better air circulation through the M5 tunnels by diluting vehicle emissions and improving air quality in the tunnels.
“The SIMPEC team working with the CPB Dragados Samsung JV team has performed very well. This new infrastructure scope has opened up new areas for the business in the east coast of Australia,” SIMPEC Managing Director Mark Dimasi said.
“I would like to thank the CPB Dragados Samsung JV for backing our team. Well done to our project team for meeting the client’s requirements and performing all work safely,” he added.
Further, tendering and proposals for the quarter were at an all-time high for SIMPEC who received over $100 million in new tenders.
These are expected to deliver positive outcomes for the business.
WestStar is up a healthy 18.8 per cent and shares are trading for 1.9 cents each at 3:52 pm AEST.
