Verbrec Limited (ASX:VBC) Secures $4.2 Million Electrical Project
Project Award
Verbrec Limited (ASX: VBC) has been awarded a $4.2 million contract by Flinders Ports for the Electrical System Redevelopment Project at the M Berth Facility in Inner Harbour, Port Adelaide. This contract follows a successful engineering and design phase led by Verbrec.
Project Scope
The works entail significant upgrades to the electrical and control system infrastructure at the facility, critical for bulk liquid customers. The project will commence in December 2024 and is anticipated to be completed by April 2026, with potential for expedited delivery if additional access opportunities arise. The project includes rehabilitation of various electrical and fire control systems, alongside electrical distribution and main switchboard upgrades.
CEO Comments
Mark Read, Chief Executive Officer of Verbrec, expressed enthusiasm about the project. He stated, “We are excited to commence works on the Electrical System Redevelopment Project at Inner Harbour, Port Adelaide, aligned with Flinders Ports’ commitment to the ongoing investment in port infrastructure and equipment.” Read added that the project aims to ensure reliable operations at the M Berth Facility for the foreseeable future.
Operational Structure
The project will be executed in stages according to planned shutdown windows, ensuring minimal disruption to site operations. The agreement follows a ‘Design and Construct’ format containing standard terms for such projects, ensuring a streamlined delivery process.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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