SRG Global secures $20m contract to supply facades to Brisbane officer tower

SRG Global ASX Brisbane Midtown Centre project
SRG Global’s latest contract is worth $20 million and involves designing, supplying and installing wall facades for the new 26-level Midtown Centre in Brisbane.

Engineering and construction group SRG Global (ASX: SRG) has collared a $20 million contract to design, supply and install facades to a Brisbane office tower in the city’s central business district.

The company will install the engineered curtain wall facades for the $175 million Brisbane-based Midtown Centre project, with the contract expected to run for 18 months.

According to SRG, the tower will comprise 26 levels and will involve redeveloping two Queensland government buildings into a single A-grade office tower.

“Securing this contract is a significant success for our facades division and SRG,” the company’s managing director David Macgeorge said.

“We are pleased to be again partnering with tier one contractor J Hutchinson, who we already have a strong relationship with in both our facades and structures businesses.”

“The project also enhances our secured long-term project work in hand,” Mr Macgeorge added.

Recent contracts

This latest contract follows several other large deals in recent weeks for the group including ones with OneSteel, South32 (ASX: S32) and Asset Services.

Earlier this month, SRG reported it had secured a three-year contract renewal worth NZ$35 million with Transpower New Zealand to provide specialist coatings removal services as well as application of industrial protective coatings and minor steel replacement to the entity’s transmission lines and substations across NZ.

Meanwhile, a recent $45 million contract with OneSteel will see SRG providing refractory services throughout OneSteel’s Whyalla steelworks site.

The initial works term is four years, with an option to extend it a further two years.

Over at South32’s Worsley Alumina operation, SRG will implement a complete suite of engineered access solutions for the operation.

The deal is for an initial three-years, but includes options to increase it to six years. If SRG ends up working at Worsley Alumina for six years, the contract is expected to bring in about $60 million in revenue.

SRG has also secured two transport infrastructure projects worth $17 million in May to strengthen a bridge in Victoria (worth $9 million) and deliver a main crossing bridge in Dubai ($8 million).

Global Construction Services merger

SRG is the result of a merger with Global Construction Services mid-last year.

The companies, which worked together on multiple projects, combined to provide multiple specialist services to clients around the world.

SRG operates five business units in civil construction, building construction, manufacturing, plus asset and mining services.

By early afternoon, SRG’s share price was up more than 10% to $0.485.

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