Thanks - important line in the SMH article - "The less spectacular rats-and-mice expenditure on transport infrastructure construction more than doubles the total spend to $36-37 billion in 2020."
Even if NRW/Golding never win the massive projects (with a larger JV partner) there is a lot of potential revenue out there on smaller projects like Goldings have been working on already. They're lower risk in general and don't need the complexity of JV partners (and Goldings has the accreditation).
Ann: Diggers & Dealers Presentation J Pemberton CEO, page-19
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