News: Downer EDI secures $280M of work

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Downer EDI Ltd (ASX:DOW) has announced over $455 million in contract wins across Australia, with Downer's share of the contract revenue totalling around $280 million.

Downer's Works division in partnership with an international consultancy company Mouchel has signed a deal with Main Roads Western Australia as part of the first contract win for their recently formed strategic joint venture, DownerMouchel.

The deal, called the Integrated Service Arrangement, is for the delivery of road management and maintenance within the Perth metropolitan network.

It is expected the arrangement's budget will be over $50 million each year for an initial period of five years with an opportunity to extend the agreement.

CEO Grant Fenn says the win represents the latest generation in road network maintenance alliances in Australia.

In the 2010 financial year Downer EDI recorded a profit of just over $3 million.