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SOUTHERN CROSS ELECTRICAL ENGINEERING LTD — Capital/Financing Update 2020
May 19, 2020
65884_rns_2020-05-19_65292078-6981-449b-b6a9-4fa19d8d5964.pdf
Capital/Financing Update
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Highlights
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SCEE awarded five year Services Agreement with Energy Queensland
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Anticipated revenues to exceed $40m
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Reaffirms SCEE’s commitment to servicing regional Queensland
Southern Cross Electrical Engineering Limited (“SCEE”) is pleased to announce it has entered into a five year Services Agreement with Energy Queensland Limited (“EQL”) for the provision of asset inspection and maintenance services on their network in the Northern Region of Queensland.
This new agreement will now replace the original three year services agreement with EQL which commenced in August 2017 and was due for completion in June 2020 (originally announced as the “Ergon Energy Services Agreement”). In addition to the longer term, the new agreement sees an approximate 25% increase in workload due to enlarged regional boundaries which now extend to the Torres Straits, the Northern Territory border and to south of Sarina.
The scope includes inspection, testing of earths, and minor maintenance and treatment of overhead and underground assets to ensure the safety and reliability of EQL’s distribution and transmission network.
The revenues associated with performing the works are expected to exceed $40m over the initial five year period and will continue to be delivered by SCEE’s team in its Regional Queensland facility located in Townsville.
Comment
Commenting on the award SCEE’s Managing Director, Graeme Dunn, said “This award is a significant achievement for the Group. Nearly four years ago we entered into this new sector as part of our diversification strategy, and I am extremely pleased we have proven our service offering through this repeat business. A great effort from our Townsville delivery team has built a successful, long term relationship with Energy Queensland and we look forward to the continuing support of our employees, subcontractors and suppliers in the successful delivery of these works.”
Authorised for release by Graeme Dunn – SCEE Managing Director
Contact
SCEE Perth Office 41 Macedonia Street Naval Base WA 6165 T: +61 8 9236 8300
Graeme Dunn CEO & Managing Director E: [email protected]
Colin Harper Company Secretary E: [email protected]
Southern Cross Electrical Engineering Limited
ABN 92 009 307 046