KUALA LUMPUR: Gamuda Bhd and Australia-based John Holland Pty Ltd’s joint venture company John Holland Gamuda Joint Venture (JHGJV) has secured a contract for the M1 Motorway extension to Raymond Terrace: Black Hill to Tomago Works, worth A$1.029 billion (RM3.03 billion).
The design and construct contract from Transport for New South Wales, the procurement entity for the New South Wales (NSW) government in Australia, is expected to generate a sum of RM1.21 billion revenue for the construction group.
“Planning and detailed design commences immediately with site investigations and utilities work in mid-2023,” the group said in a filing with Bursa Malaysia on Dec 22.
Gamuda said the scope of works includes 10km of greenfield dual carriageway motorway between the M1 Motorway at Beresfield and Tomago as well as major interchanges at Black Hill, Tarro and Tomago.
The JV company would also need to construct nine bridges including a viaduct approximately 2.6km long across the Hunter River and floodplain, it said.
It added the project would create social benefit initiatives within the local community and wider Hunter Region of NSW during construction.
John Holland owned 60% equity interest in JHGJV, with the remaining held by Gamuda.
Trading of Gamuda’s shares and structured warrants on Bursa Malaysia has been halted with effect from 11.18am on Dec 22.
At 11.48am, Gamuda’s shares stood at RM3.66 per unit, with 366,700 shares changing hands. – Bernama