Civmec Secures Major Shiploader Project Worth Up to A\$100 Million
PERTH/SINGAPORE, 13 NOVEMBER 2024 – Civmec Limited (“Civmec” or the “Group”, ASX:CVL, SGX:P9D) has announced a significant new project award, marking a major milestone for the company. Civmec has been awarded the design and construction works for a new major shiploader, with the total project value estimated at A\$90-100 million.
The project involves the replacement of an existing machine and encompasses design, fabrication, preassembly, shipping, and installation activities. Engineering and design will be conducted by Civmec’s in-house engineering team, followed by manufacture, preassembly, and no-load commissioning at their Henderson fabrication facilities in Western Australia. The shiploader is scheduled for handover in 2028. This development is expected to create over 100 highly specialized jobs, providing significant opportunities for local employment and subcontracting.
Commenting on the project, Civmec’s CEO, Mr. Patrick Tallon, stated, “We are delighted to secure this prestigious shiploader project, which represents a significant advancement of our balance machine division. This award, following the recent contract from Alcoa for a new bridge reclaimer, establishes Civmec as a key Original Equipment Manufacturer supplier of high-quality balance machines for Tier 1 clients around Australia.”
The project reinforces Civmec’s strategic position in the balance machines sector, which includes stackers, reclaimers, and shiploaders. The company anticipates a demand of at least 30-40 new, replacement, and major refurbishments of balance machines across Australia over the next 10 years.
Shareholders should note that while Civmec’s tendering activities remain high across all business segments, the timing of key project awards has been delayed from H1 FY25 into H2 FY25. This could result in lower levels of activity during Q3 FY25 and possibly Q4 FY25. Despite this, Civmec’s order book remains robust, exceeding A\$800 million, demonstrating steady replenishment during H1 FY25.
This announcement was authorized for release to the ASX and SGX by the Board of Directors.
About Civmec Limited:
Civmec is an integrated, multi-disciplinary construction and engineering services provider to the Energy, Resources, Infrastructure, and Marine & Defence sectors. Headquartered in Henderson, Western Australia, Civmec has regional offices in Newcastle (New South Wales, Australia), Gladstone (Queensland, Australia), and Port Hedland (Western Australia). The company’s core capabilities include heavy engineering, shipbuilding, modularisation, SMP (structural, mechanical, piping), EIC (electrical, instrumentation and control), precast concrete, site civil works, industrial insulation, maintenance, surface treatment, refractory, and access solutions. The company is listed on the ASX (Australia ASX:CVL) and SGX (Singapore SGX:P9D).
For more information, visit www.civmec.com.au.
Disclaimer: The information contained in this article is for informational purposes only and does not constitute financial advice. Readers are encouraged to conduct their own research and consult with a financial advisor before making any investment decisions.
