Transfield Services secures A$200 million of work with Australian Rail Track Corporation
13 August 2010
Transfield Services has been awarded A$160 million in rail upgrade work over the next two years with Australian Rail Track Corporation (ARTC).
Further to this, the Company has secured an additional 18 month extension on its existing long term maintenance alliance contract, extending the current 12 year relationship with ARTC and bringing the total value of work secured with ARTC to A$200 million.
The upgrade work on rail infrastructure in South Australia and the Eastern rail corridor between Melbourne and Sydney will increase the efficiency of rail infrastructure, allowing increased freight loads.
Managing Director and Chief Executive Officer, Peter Goode said: “Transfield Services continues to capitalise on opportunities from increased infrastructure spend across Australia.
“The Company’s diversity across industries and services offerings, such as maintenance and programme management capabilities for delivering capital works, allows us to secure work such as this.”
Transfield Services’ disciplined approach has sustained its strong order book of long-term contracts that deliver consistency of earnings, generating solid and reliable returns.
Transfield Services continues to provide more than 80 per cent of its services under secure, long-term asset management contracts and its overall client retention rate exceeds 95 per cent.
The Company has a robust pipeline of work developing in oil and gas, power, defence, transport and social infrastructure, providing continuing diversification for the business.
| Transfield Services secures A$200 million of work with Australian Rail Track Corporation |
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Transfield Services employs over 27,000 people across 21 industries and 13 countries.
We are a global provider of operations, maintenance and construction services to the Resources, Energy, Industrial, Infrastructure, Property and Defence sectors.
We deliver asset management services across all phases of the asset lifecycle, from concept and creation, to services that sustain, optimise and enhance our Client’s assets.
With diverse global experience and expertise, we share our knowledge and challenge thinking to develop and implement innovative solutions that deliver real value for our Clients.
Our unique approach enables us to deliver continuous improvements in asset performance and sustain long term relationships with our Clients and partners.