The state and federal governments have poured an extra $150 million into the $1.7 billion Perth City Deal to safeguard its projects as costs spike, with Multiplex to build the new ECU CBD campus.
Administrators have been given more time to sell Probuild and WBHO Infrastructure, while further details on creditors and the sale processes have emerged.
The extent of the cost increase on the Midland Station project has been revealed, with the project value having almost doubled from $165 million to $315 million.
Subiaco-based SRG Global has announced plans to take over West Perth-based rival WBHO Infrastructure as part of a $15.2 million deal following the company's collapse late last month.
Subcontractors caught in the collapse of WBHO are being advised to assess their insurance policies, while industry premiums could be set to rise amid ongoing insolvencies.
WBHO Infrastructure’s parent company had pledged continued financial support until at least October 2022, after the subsidiary made a $35 million loss in the 2021 financial year.
Mader shares were boosted on the back of a half-yearly update that observed a $44 million uptick in revenues as the heavy equipment and services provider works to build its international presence.
Australian contractor CIMIC has told shareholders to take no action in response to a takeover proposal from majority shareholder HOCHTIEF that lifted shares by 33 per cent.
Shares in Decmil fell 11 per cent after posting a $3.9 million loss for the half-year, alongside a lift in revenue, as the company picks up more work but grapples with labour availability and contract disputes.
Administrators were appointed to 18 WBHO Australia entities overnight, including West Perth-based WBHO Infrastructure, and Probuild, which could be expected to owe at least $250 million.
The federal government has revealed the likely cost break-down of major upgrades to the Armadale rail line, with the combined cost increasing to nearly $2 billion.
Telecommunications infrastructure company GenusPlus is set to acquire private Queensland business Pole Foundations Australia for an upfront $22 million in cash and shares.
NRW Holdings has reported steady earnings and revenue for the six months to December, sending the Perth contractor’s shares up by more than 15 per cent.
Marine infrastructure services business Maritime Constructions has been selected by the state government to improve navigation aids for boaters visiting Rottnest Island.
It's hoped construction of a $3 billion, globally significant space research project in the Murchison region will start mid-year, as negotiations with Traditional Custodians for a land use agreement continue.
The state government has selected Indigenous business CareyMC to complete upgrades at Two Rocks Marina, while BMD Constructions has been appointed to a project in the Wheatbelt.
Belmont-based GenusPlus Group has been named preferred supplier to Australia’s first hyperscale national fibre network, with its contract worth at least $50 million.
Aboriginal business Kimberley Civil and Drainage has been appointed to start work on an 11-kilometre wastewater pipeline as part of an infrastructure upgrade in Broome.
Decmil and NRW Holdings have been awarded contracts under the state and federal government’s estimated $216 million infrastructure spend on the busy travel route.
The state government has revealed big cost increases on three Metronet rail projects while also announcing consortiums led by Acciona and Laing O’Rourke as preferred contractors.
