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DOWNER EDI LIMITED — Capital/Financing Update 2011
Sep 14, 2011
64784_rns_2011-09-14_ce4fcf3f-d9c2-4e5a-adf8-c3d7547aa4d4.pdf
Capital/Financing Update
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Media/ASX and NZX Release
15 September 2011
LETTER OF AWARD FOR LNG PROJECT
Downer EDI Limited (Downer) announced today that the Clough Downer 50:50 joint venture (CDJV) had received a Letter of Award by Fluor for the construction of pipelines, compression facilities and associated infrastructure relating to the Fairview component of the Santos GLNG project, located in the Surat Basin, Queensland.
The Letter of Award relates to a unit rate re-measurable contract valued at around $600 million and involves the construction of over 400 kilometres of gas and water transmission pipelines, two compression facilities and an 800 person camp, as well as the expansion of the existing Fairview compression facilities.
The Chief Executive Officer of Downer, Grant Fenn, said this is another major win and Downer was pleased to be extending its relationship with Clough.
“We have a compelling service offering and an expanding footprint in the growing Oil & Gas sector,” Mr Fenn said.
“This is a significant project award and represents a breakthrough for our recently established Coal Seam Gas division into the expanding Queensland Coal Seam Gas industry. We will utilise resources and expertise from across the company and will work with our partner Downer to deliver the best possible project outcomes to Santos and their partners for this groundbreaking CSG to LNG project,” said Clough’s Chief Executive Officer John Smith.
Construction work is due to commence in September 2011. At peak the project will employ a workforce of 650.
For further information please contact:
Michael Sharp, Group Head of Corporate Affairs and Investor Relations +61 439 470145 Luke Thrum, Manager Investor Relations +61 459 828720
Downer EDI Limited (www.downergroup.com) provides comprehensive engineering and infrastructure management services to the public and private Minerals & Metals, Oil & Gas, Power, Transport Infrastructure, Communications, Water and Property sectors across Australia, New Zealand, the Asia Pacific region and the United Kingdom.
A Triniti Business Campus, 39 Delhi Road, North Ryde NSW 2113 P PO Box 1823, North Ryde NSW 2113 T +61 2 9468 9700 | F +61 2 9813 8915 | W downergroup.com
Downer EDI Limited ABN 97 003 872 848