- Construction company Decmil has received a $417 million contract to do main works on the Mordialloc Freeway project
- The project will connect the Mornington Peninsula Freeway with the Dingley Bypass
- Decmil shares the contract in a joint venture with fellow construction company McConnell Dowell
- Decmil’s share price is up 2.35 per cent today, currently sitting at 87 cents apiece
In a $417 million contract, construction company Decmil will provide main works for the Mordialloc Freeway project, Victoria.
Decmil is sharing the contract with its joint venture partner McConnell Dowell — a fellow construction company. Decmil holds a 40 per cent interest in the project’s contract.
Major Road Projects Victoria commissioned the contract and work is set to begin immediately.
The Mordialloc Freeway project will connect the Mornington Peninsula Freeway to the Dingley Bypass and unify the roads between Frankston and Clayton.
As it stands, the project is expected to be completed by the end of 2021.
The new contract is another addition to the Decmil books, who reached record construction and engineering revenue in the 2019 financial year. A 96 per cent increase on the previous year saw revenue soar to $659.1 million.
Decmil remains working on a number of multi-million dollar contracts throughout Australia and internationally.
Decmil’s share price is up 2.35 per cent today, currently sitting at 87 cents apiece, as of 1:51 pm AEST.