DOWNER EDI LIMITED 2003-05-07 ASX-SIGNAL-G
HOMEX - Sydney
+++++++++++++++++++++++++
Downer EDI Limited (Downer EDI) today announced new contracts in Singapore to provide engineering consultancy services, including detailed studies, design and construction management, to a major
environmental infrastructure project in Singapore, and the design and construction of a transmission cable tunnel.
The total value of the projects to be undertaken is an estimated A$510 million (S$566 million).
Downer EDI's recently acquired subsidiary, CPG Corporation (CPG), has
been engaged to provide engineering consultancy services for the
construction and commissioning of a major environmental project in
Singapore, which has an estimated project cost of A$450 million
(S$500 million).
CPG's scope of works will include detailed engineering studies,
design and construction management.
In a parallel development, Downer EDI's engineering division has been
awarded a contract by PowerGrid (a subsidiary of Singapore Power) for
the design and construction of a 2.65km (5.4 metre internal diameter)
transmission cable tunnel from Harbour Drive to the Labrador 400kV
substation in Singapore.
Valued at A$60 million (S$66 million), work on the project will
commence in May 2003 and the tunnel is scheduled for completion by
the end of July 2005.
This project follows on from recent tunnelling work for power
companies, including Energy Australia and Vector Energy (NZ).
Commenting on the successes, Managing Director of Downer EDI, Mr
Stephen Gillies, said the new contracts in Singapore were a welcome
launch of the company's integrated services capabilities following
the CPG acquisition.
"As we consolidate our Singapore based operations, prospects for
further growth in Singapore are very encouraging," Mr Gillies said.
Downer EDI (www.downeredi.com) is an Australian top-150 company that
provides comprehensive engineering and infrastructure management
services to the public and private rail, road, power,
telecommunications, mining and resources sectors in Australia, New
Zealand and Asia. The company has assets of over $1.7 billion and
employs more than 13,000 people.
Contact: John Shuey, Group Corporate Affairs Manager 61 2 9251 9899
or 0413 705 491
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