CONSTRUCTION PROJECTS – AUSTRALIA

Snowy 2.0 buried in a wage storm

roymorgansocial Leave a comment

Original article by Ewin Hannan
The Australian – Page: 1 & 2 : 10-Sep-25

The Australian Workers Union has struck a new enterprise agreement with Snowy 2.0 contractor Webuild that will boost the wages of tunnel workers. The ‘fly-in, fly-out’ workers will receive an upfront pay rise of $6,000 over a six-week roster cycle, plus an additional wage increase of 2.25 per cent every six months for four years; this will boost their annual wage to about $300,000. The wage deal also includes a 62 per cent increase in the tunnel workers’ hourly productivity allowance. The AWU’s NSW secretary Tony Callinan has conceded that the new agreement will result in a significant increase in Snowy 2.0’s labour costs. The renewable energy project is already well over budget and behind schedule.

CORPORATES
AUSTRALIAN WORKERS’ UNION, WEBUILD

Devine extends debt facility as profit climbs

roymorgansocial Leave a comment

Original article by Matthew Cranston
The Australian Financial Review – Page: 40 : 13-Aug-15

Devine has announced a first-half net profit of $A900,000 after major shareholder CIMIC earlier rejected offers from potential buyers for the listed residential property developer. It has extended its debt facility with the ANZ Banking Group for another year. The company has started apartment and mixed-use projects in a joint venture with Japanese developer Daikyo, including the Mode development in Brisbane.

CORPORATES
DEVINE LIMITED – ASX DVN, CIMIC GROUP LIMITED – ASX CIM, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, DAIKYO INCORPORATED, HUNTER GREEN INSTITUTIONAL BROKING PTY LTD

‘More holistic’ leadership will save billions

roymorgansocial Leave a comment

Original article by Jenny Wiggins
The Australian Financial Review – Page: 13 & 18 : 22-Jun-15

Research by consulting firm Agilience has found that the total cost blowout of 44 large infrastructure projects in Australia was around $A6bn. WestConnex Delivery Authority chairman Tony Shepherd says the research demonstrates that more efficient management of large-scale infrastructure projects can result in significant cost savings. He has called for a more holistic approach to leadership of such projects.

CORPORATES
AGILIENCE, NEW SOUTH WALES. WESTCONNEX DELIVERY AUTHORITY, AUSTRALIAN CONSTRUCTORS ASSOCIATION LIMITED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, BOUYGUES SA, LEND LEASE GROUP LIMITED – ASX LLC, URBANGROWTH NSW

75,000 jobs to go in mining’s new phase

roymorgansocial Leave a comment

Original article by Barry FitzGerald
The Australian – Page: 21-22 : 2-Jul-14

Justin Fabo, senior economist corporate and commercial at ANZ Banking, predicts the Australian resources and related services sector to shed up to 75,000 jobs by 2016. This would be a decline of 28%, and result from the transition from the construction to production phase at many mining and energy projects. Already, over-capacity in the market has brought redundancies at coal and iron ore operation. Fabo stresses that out of the 75,000 workers affected, a large share will be temporary migrants, and that these will simply return home rather than add to the nation’s unemployment rate

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, AUSTRALIAN WORKFORCE AND PRODUCTIVITY AGENCY

NBN connections soar in a year

roymorgansocial Leave a comment

Original article by Mitchell Bingemann
The Australian – Page: 2 : 1-Jul-14

Greg Adcock, COO of NBN Co, has issued new and promising data on its progress in rolling out the Australian Government’s national broadband network. The number of premises connected to the cabling infrastructure has risen from 27,250 to 106,000 during 2013-14, while that of actual users is also up from 1,870 to now about 16,000. NBN Co and the main contractor, Ericsson, have a target of 450,000 connections by mid-2015. However Ericsson, which is being paid $A1.1bn, had suffered a series of setbacks

CORPORATES
NBN CO LIMITED, ERICSSON AUSTRALIA PTY LTD, TELEFON AB LM ERICSSON