- EVZ’s (EVZ) wholly-owned subsidiary, Brockman Engineering, secures an additional three bulk storage tank design and construction contracts with a total value of $17 million
- The new contracts include the design and construction of a new 10 megalitre (ML) liquid fuel tank at a Newport terminal facility
- Brockman Engineering is selected as the preferred contractor for a further two liquid fuels major tank projects with a total expected contract value of $27 million
- The strong contract pipeline’s backlog is expected to be maintained above $100 million for the foreseeable future
- EVZ shares hold steady at 15.5 cents
EVZ’s (EVZ) wholly-owned subsidiary, Brockman Engineering, has secured an additional three bulk storage tank design and construction contracts with a total value of $17 million.
The new contracts include the design and construction of a new 10 megalitre (ML) liquid fuel tank at a Newport terminal facility and the construction of two three ML underground storage tanks in the Northern Territory for use by the Department of Defence.
It also includes the design and construction of a new six ML water storage tank located in greater Sydney.
Brockman Engineering has also been selected as the preferred contractor for a further two liquid fuels major tank projects with a total expected contract value of $27 million.
If successful in winning these contracts, they would be expected to commence in Q1 FY23.
EVZ CEO Scott Farthing said that securing these contracts “will support [the company’s] revenue and earnings growth during FY23 and beyond”.
“Our diversified mix of projects across the liquid fuels, water and defence sectors supports our growth strategy and continues to add scale to our overall business,” he said.
The strong contract pipeline’s backlog is expected to be maintained above $100 million for the foreseeable future.
EVZ shares held steady at 15.5 cents at market close.