Gamuda to take up 50% stake in Aussie rail constructor
Published on 03 Oct 2019. | Source: thestar.com.my
KUALA LUMPUR: GAMUDA BHD will take up a 50% stake in Australia-based Martinus Rail Pty Ltd to leverage on the significant pipeline of construction projects Down Under.
“Gamuda Engineering Australia and Martinus Rail together will tender for infrastructure jobs immediately, with Gamuda’s commitment in providing support and training to help address the skills shortage in Australia, ” the company said in a statement.
According to the July 2019 BIS Oxford Economic Report, rail infrastructure works in Australia are expected to grow 14% per annum until 2023.
Railway works will be supported by expected networks to the Melbourne and Western Sydney Airports, as well as continued construction of the Inland Rail, Sydney Metro West and Geelong Fast Rail.
“This investment highlights the continued growth in our two-way commercial relationship and Malaysia’s confidence in Australia’s continued infrastructure development pipeline estimated at A$300bil’, ” said Daniel Havas, Australia’s senior trade and investment commissioner to Malaysia.
Under the collaboration, Gamuda will commit to providing support and training to address the skills shortage in Australia, where there are very few top-tier rail contractors.
Gamuda added that the investment would be a catalyst of job creation while improving liveability and sustainability of the communities.
Martinus Rail is the largest independent, privately owned, specialist rail constructor in Australia. It has a strong track record in the rail space with the successful delivery of large rail projects exceeding A$200mil in New South Wales, Victoria and Queensland.
“We are excited by the prospect of bringing innovation and technology from a world-class rail infrastructure company like Gamuda to the Australian rail industry, and combining it with our extensive local experience to become Australia’s leading rail contractor, ” said Martinus Rail managing director Treaven Martinus.
Stay tuned for a new offer coming to you soon.
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