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.