Property development group Limited (ASX:WTP) says its construction division has been awarded a $40 million contract to design and construct the expansion of Darwin’s International airport.
The project is Watpac’s first in the Northern Territory. The company says it has been committed to expanding its construction operations.
Construction is expected to commence in April next year. Watpac shareholders expressed concern at its recent annual meeting over an 8 per cent increase in executive salaries amid its falling share price.
Watpac swung to a net loss of $50.2 million in the 2012 financial year.
WTP Price at posting:
59.0¢ Sentiment: None Disclosure: Held
