Join our daily newsletter At The Bell to receive exclusive market insights
- Downer EDI’s (EDI) joint venture has been announced as one of the three groups to deliver services under Sydney Water’s Partnering for Success Program
- The joint venture between Downer, Broadspectrum and Jacobs will deliver design, construction and maintenance in Sydney Water’s North region
- The $2 billion contract will be delivered over a 10-year period with a review at the 5-year mark
- Downer has ended the day 0.49 per cent in the green with shares trading for $8.27 each
Downer EDI’s (EDI) joint venture has been announced as one of the three groups to deliver services under Sydney Water’s Partnering for Success program.
The Confluence Water joint venture between Downer, Broadspectrum and Jacobs, will deliver design, construction, maintenance and facilities management services in Sydney Water’s North region.
This covers the area from Sydney Harbour to the Hawkesbury River, and includes the Hills Shire.
Confluence Water is responsible for the maintenance, renewal and upgrade of existing assets in the region.
It also includes the construction of new assets such as pipelines, pump stations and wastewater treatment plants.
The program of work will be delivered over a 10-year period with a review at the 5-year mark to assess each of the groups performance.
Sydney Water estimates the total value of the contract to be approximately $2 billion.
Confluence Water will support Sydney Water in delivering world-class services to over one million people living in Northern Sydney by driving innovation in design, construction and asset management as well as providing opportunities in the local communities.
“Downer is very pleased to be selected for such a significant long-term partnership,” Downer CEO Grant Fenn stated.
“We look forward to working closely with Sydney Water and our joint venture partners to deliver these vital services to the growing region of Northern Sydney,” he added.
Downer has ended the day up a slight 0.49 per cent with shares trading for $8.27 each.
