There are others projects in the drawer of Weibuld about Australia, a strategic market for the ex-Salini Impregilo and second in the world after Italy. The mega is taking shape further acquisition ofAustralian Clough, the beachhead for Webuild in a market that involves investments in infrastructure for 300 billion euros: new projects are being added, among which most likely there will also be the strategic one of Waitsia gas field.
Within the agreement between Webuild and Deloitte Administrators of Clough Limited, there are currently projects that the two companies already have in participation. But no others had been included yet projects which at the moment they are still in the hands of the Australian alone and for which until now there has been no indication of their fate. The title Webuild a Business Square share 1,68 euros, down by 1,93% in the session, and up by 13,50% in the last 5 days.
What is the Waitsia Gas 2 project all about?
Webuild hasn't given any details about the latter, but it is very probable that one of the projects that will be included will be the one related to the Waitsia Gas Project Stage 2, near Dongara, Western Australia, according to a reconstruction by Firstonline from the Australian site.
The goal of the development of phase 2 of Waitsia is to contribute to stable supply of LNG to meet growing global demand, as well as to continue supplying domestic gas. The project includes a gas treatment plant of 250 TJ/day and related collection pipelines distributed over an area with a radius of approximately 10 km in Western Australia. The Waitsia gas field is classified as one of the largest gas fields never discovered onshore in Australia and is expected to bring significant economic benefits to the Mid-West region during both construction and operational phases.
Other projects are to be included
The inclusion of other projects within the scope of the agreement is being studied. Webuild is about to finalize an agreement “for extend the acquisition perimeter to further projects, safeguarding the continuity of the company's business, the delivery of quality works to clients and above all safeguarding the unique skills and know-how of the personnel", says a statement adding that the continuity of Clough's strategic projects will be "guaranteed of more than 1.000 jobs”.
Webuild already has reached an understanding with Clough which provides for the purchase of a base perimeter consisting of the central Clough organization in Australia (with offices, brands, credentials, qualifications, senior management, headquarters staff, etc.) and shares in the snowy 2.0 (the largest hydroelectric project in the country) e Inland Rail. Webuild undertook to disburse Clough (which last June reported an order backlog of approximately 2,1 billion, in addition to approximately 2,7 billion of projects for which the company was the best bidder) a financing up to AUD 30 million, equal to about 20 million euros.
What the Clough acquisition means for Webuild
Negotiations with Clough had a series of stop and go. But now it has become Webuild Group's platform to break into Australia, a market with an ambitious infrastructure investment program estimated at 300 billion in 2022-2025. Currently Australia is the second largest market of reference for Webuild after Italy, with a order backlog of 8,9 billion euro orders, including projects for which Webuild was the preferred bidder.
With over 1.800 employed, Webuild is expanding its operations in Australia. He recently delivered the Airport Line in Perth, a train service connecting the eastern suburbs with the Central Business District via the airport. Will participate in the construction of the Sydney Metro-Western Sydney Airport line, which will connect the city to the new airport, and is working on the North East Link, the missing section of Melbourne's ring road. Participate in the preferred bidder result consortium for the construction of a section of inland rail, designed to improve freight transport between Brisbane and Melbourne.
Clough, founded in Perth in 1919, is among the leading companies in Australia in the sector. His major historic projects include the first skyscraper in Perth and the first major underground highway tunnel in Western Australia.
