Friday 10th Jul, 2020

Gamuda BhD acquires Australian specialist rail constructor Martinus Rail

Malaysian based rail and infrastructure company Gamuda Berhad is acquiring a 50 per cent equity stake in Martinus Rail, an independent Australian specialist rail constructor.

Announced in early October, Gamuda intends to leverage the significant pipeline of construction projects in Australia, estimated at $300 billion. The company will immediately bid for $20 billion worth of construction projects.

Gamuda Engineering Managing Director Datuk Ubull Din Om said the acquisition provides a springboard for Gamuda to contribute towards infrastructure development in Australia.

“This is similar to what we have successfully achieved in other nation building projects which have sustainably benefited the local supply chain in the economic and social segments,” Ubull said.

Gamuda, which works largely in Malaysia, is currently delivering a $10 billion Mass Rapid Transit (MRT) Line 2. The company will deliver a 53km metro rail system with 35 stations in one of the most challenging geotechnical conditions.

Martinus Rail has delivered large rail projects exceeding $200 million in New South Wales, Victoria and Queensland.

Martinus Rail Managing Director Martinus Rail said the companies have complementary strengths in rail infrastructure construction.

“With the hefty balance sheet and mega project experience of Gamuda backing us, Martinus Rail is set for a bright future in the rail industry,” Martinus said.

Martinus Rail General Manager for New Business and Strategy, Ryan Baden, said Martinus Rail has grown significantly in recent years. Further growth, however, will require greater financial strength and experience in delivering more complex projects across all contract models.

“Going forward, we’re adding significant capability in civil and structural work in railway construction and can leverage ground-breaking innovation and engineering solutions to help deliver some of Australia’s largest rail projects,” Baden said.

Rail infrastructure work in Australia is expected to grow 14 per cent per annum until 2023 according to the BIS Oxford Economic Report published in July.

Warning: Use of undefined constant essb_rs_mailform_code - assumed 'essb_rs_mailform_code' (this will throw an Error in a future version of PHP) in /home/forge/ on line 56

Send this to friend