The item below is now more than a month old but I couldn't spot it on this thread. If it has already been posted then please accept my apologies.
Watpac builds on Besix link
SARAH DANCKERT The Australian August 29, 2013 12:00AM
CONSTRUCTION and civil engineering company Watpac is eyeing joint venture deals with its new significant shareholder Besix, lobbing bids for public-private partnerships in Western Australia and Victoria.
The Australian understands Watpac and Besix have teamed up to bid for the $630 million Ravenhall Prison project in Victoria. Canada's Brookfield is also thought to have bid.
Speaking after handing down the company's results yesterday, Watpac chief executive Martin Monro said joint venture deals were part of the long-term relationship the Brisbane-based company was looking to develop with the Belgium construction giant.
Besix is Belgium's largest construction firm and was part of the consortium behind the Burj Khalifa in Dubai. Its spokesman is currently in Dubai and was not available for comment.
Mr Monro said: "The collaboration between the two organisations is exciting. We're looking at a couple of opportunities now.
"In the last few months that they've been a part of the landscape here, we've worked hard to understand their skillset, their sweet spot if you like, and where those skills align we're looking seriously at couple of joint ventures."
Mr Monro declined to confirm that Watpac and Besix had lodged a bid for the Ravenhall project. The Victorian government is currently working on a shortlist for that project.
But he said the group had tendered on public-private partnership projects together, including the East Rockingham Waste Water treatment plant in Western Australia. "We see considerable opportunities in the civil operations in Western Australia," he said.
Besix bought a 17.5 per cent stake in Watpac in April after property stalwart Kevin Seymour offloaded his stake in the company. - See more at: http://www.theaustralian.com.au/business/property/watpac-builds-on-besix-link/story-fn9656lz-1226706035603#sthash.5IIe1szm.dpuf
Not holding but on watchlist.
WTP Price at posting:
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