Roy Cokayne
3 minute read
13 Jan 2021
7:10 am

M&R lands huge overseas contract

Roy Cokayne

Group ‘well positioned’ to operate through Covid-19 uncertainty.

Oil and gas production posted its largest-ever decline in the Federal Reserve's April industrial production survey. AFP/File/Paul Ratje

JSE-listed engineering and construction group Murray & Roberts (M&R) has been awarded another significant contract in Australia to further bolster its already strong order book and future potential earnings. M&R reported on Monday that Clough, the group’s Australian subsidiary, has been awarded a contract valued at about Au$400 million (around R4.8 billion) for engineering, procurement and construction scope of work on the Waitsia Stage 2 development project in Western Australia. M&R group investor and media executive Ed Jardim confirmed on Monday the contract is one of the four near orders and “Category 1 opportunities” with a combined value of about...