Companies
Webuild Set to Acquire Australian Contractor Clough Ltd.
Webuild's acquisition of Percy-based contractor Clough Ltd. will expand its footprint in Australia.
Image courtesy Webuild
Italy-based Webuild S.p.A. will increase its Australian footprint following the firm's recently announced conditional agreement to acquire the medium-size contractor Clough Ltd. from South Africa-based Murray & Roberts Holding Ltd. With about 2,500 employees, Clough reported 2021 revenue of $960 million and a $2.1-billion backlog, mainly in Australia and North America.
The company is a joint venture partner with Webuild on the 2,000-MW Snowy Mountain 2.0 hydro pumped storage development in New South Wales, Australia. Owned by Snowy Hydro Ltd., the project includes construction of roughly 27 km of 10-m-dia, concrete-lined tunnel between the existing Tantangara and Talbingo reservoirs, both southwest of Canberra.
Before the acquisition, Webuild employed about 1,800 in Australia and reported a backlog there of $9 billion, including projects for which it is a preferred bidder.
Recently, the Parklife Metro consortium—nearly 80% controlled by Webuild—has become preferred bidder for the Sydney Metro contract related to stations, systems, trains, and operations and maintenance.
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