28 March 2021

Duratec and DDR awarded $38M Defence works

Duratec Limited (Duratec or the Company) (ASX: DUR), is pleased to announce it has been awarded $25m in Defence works during Q3 of FY21 and its 49% owned indigenous JV DDRIC $13m in Defence works in the same period.

These works involve building refurbishment, electrical infrastructure upgrades, wharf remediation, specialist training facilities construction on multiple Defence sites. Initial works have commenced but the project lead times mean the majority of revenue income stream will occur in FY22.

Phil Harcourt, Managing Director of Duratec, commented: “The diversity and complexity of work type awards and locations demonstrates the experience, capability and national presence of Duratec which retains the agility of a local business. We understand the importance of maintaining Defence capability, security of the project work sites and satisfying the needs of all stakeholders.

Defence continues to be a key strategic focus for Duratec. To date Duratec has a presence on 37 of the 75 Defence bases in Australia delivering whole-of life Defence Estate and Infrastructure Group projects upgrading important base assets. Duratec currently has over $200m of Defence tenders submitted and awaiting decision. The pipeline of opportunities in this sector, together with the resources sector (in particular), continues to grow for both Duratec and DDRIC”.