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Johns Lyng Group (ASX:JLG) leads Victorian storm damage recovery

Industrial
ASX:JLG      MCAP $1.533B
05 July 2021 16:20 (AEST)

Source: Johns Lyng Group

Johns Lyng Group (JLG) has penned a contract to lead the recovery from storm damage for Victoria.

The contract with the state involves the provision of clean-up and make-safe works on private properties damaged by Victoria’s recent severe storms, spread across 39 local government areas.

An initial phase of work focused on private properties will be delivered through joint funding of $55.5 million from the Australian Federal Government and the Victorian State Government.

Through a contract with Bushfire Recovery Victoria, a Victorian Government agency which works directly with communities after catastrophic events, Johns Lyng will be responsible for clearing storm and flood damaged sites, and ensuring they are fit for restoration and redevelopment.

 This initial program may be extended across further work phases once a more detailed scope of work is determined.

“We’re very pleased to be working with BRV on this critically important piece of work, and we thank them for engaging us,” Chief Executive of Johns Lyng Group, Scott Didier said.

The company says it is confident in its qualifications to conduct the works necessary to assist Victorians.

“We’ve got a national network of more than 6000 trades and contractors and so we’re well placed to scale up quickly and get all hands on deck when disasters strike. This kind of catastrophic event is exactly what our business is built for and we’re happy to be playing a role,” Scott Didier continued.  

The contract was effective from July 4, 2021.

Johns Lyng Group was up 0.3 per cent, trading at $4.96 at 4:20 pm AEST.

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