KUALA LUMPUR: Gamuda Bhd’s Australian joint venture has secured a A$994 million (RM2.69 billion) construction contract for Marinus Link Stage 1 Balance of Works (BOW) package.
In a bourse filing, the company said the package is the final major construction tender for the first stage of the Marinus Link project, covering civil, structural and electrical infrastructure.
It includes building the converter station buildings, performing land cable civil works and other onshore installation jobs following the earlier award of the main cable and converter equipment contracts.
Gamuda’s subsidiary DT Infrastructure Pty Ltd is partnering with South Korea‘s Samsung C&T Corp under the TasVic Greenlink joint venture, with each holding a 50 per cent stake.
The contract will be executed under an incentivised target cost delivery deed over a five-year period, with on-site works expected to commence in early 2026.
The contract was awarded by Marinus Link Pty Ltd, a special purpose entity jointly owned by the Australian federal government (49 per cent), the Victorian government (33.3 per cent) and the Tasmanian government (17.7 per cent).
The Marinus Link project is a nationally significant energy interconnector aimed at linking Tasmania and Victoria to support Australia’s renewable energy transition.
Based on its equity share, Gamuda is expected to earn about A$497 million (RM1.35 billion) from the project.
“Once delivered, the Marinus Link BOW Package will strengthen Australia’s renewable energy infrastructure by enabling greater connection between Tasmania and Victoria.
“The project will support emissions reduction by increasing grid reliability and renewable energy flow, while delivering long-term social value through local employment, skills development and responsibly managed environmental outcomes,” Gamuda said.
The group expects the package to contribute positively to its revenue and earnings from the financial year ending July 31, 2026 until the project’s completion.
© New Straits Times Press (M) Bhd
