Thanks Sabine,
Some random thoughts and observations to add into the conversation ...
NWH winning the FMG crushing contract ... at the annual results webinar CE stated that MIN were no longer interested in building plant/capital works for others. He’s pushing MIN towards build-own-operate. Therefore, that seems like there is one less competitor to NWH when a T1 miner wants a crusher built and want to operate it themselves (as per the RCR/NWH win).
Yes T1 construction companies have been hurt with some bids. But this has reduced competition in bids and enabled companies to push risk back onto state Govts. An example of the is the Roselle Interchange for the Westconnex road project. NSW govt had to pay a bidders to bid ($30M from memory - tho suggest check as my kids reckon my memory is shocking). It appears the Govt may have t mitigate the risk via some sort of partnership. This is good new for contractors and sub-contractors (IMO, NWH is more likely a subcontractor or junior partner in these mega projects).
That $8Bn Tender Pipeline!, page-60
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