Wagners (ASX:WGN) secures contract on Sydney Metro – Western Sydney Airport project

• Wagners (WGN) secures a material contract for the major Sydney Metro – Western Sydney Airport
• Under the terms of the contract, Wagners will manufacture and supply over 67,000 precast concrete tunnel segments for the twin tunnels
• All segments will be produced locally at Wagners’ precast manufacturing facility in Wacol, Brisbane and will commence manufacturing in late 2022
• Subject to timing, the contract’s contribution to the company’s revenue is expected to be in the vicinity of $140 million over an estimated 20 month period from late 2022
• WGN shares are up 11.8 per cent, trading at $1.33 at market close

Wagners (WGN) has secured a material contract for the major Sydney Metro – Western Sydney Airport.

The new Sydney Metro – Western Sydney Airport service will connect St Mary’s with the new Western Sydney International Airport and the Western Sydney Aerotropolis, providing a public transport service to the new airport.

Under the terms of the contract, Wagners will manufacture and supply over 67,000 precast concrete tunnel segments for the twin tunnels.

All segments will be produced locally at Wagners’ precast manufacturing facility in Wacol, Brisbane and will commence manufacturing in late 2022, with the final segments scheduled for completion in early 2024.

Subject to timing, the contract’s contribution to the company’s revenue is expected to be in the vicinity of $140 million over an estimated 20 month period from late 2022.

The company secured the contract after demonstrating to the CPB Contractors Ghella
(CPBG) joint venture that it has the required experience and resources to deliver such an integral component of the project.

CEO Cameron Coleman called the partnership a “critical scope of works” which will deliver significant job opportunities.

“The Sydney Metro-WSA-SBT is a significant project providing important transport infrastructure for the people of Sydney,” he said.

“Wagners have been involved in the construction of the last three significant tunnel projects in Queensland, and is looking forward to being able to utilise this expertise in the manufacture and delivery of these segments for the Sydney Metro-WSA-SBT project.”

WGN shares were up 11.8 per cent, trading at $1.33 at market close.