Latest news with #WeBuild
Yahoo
28-05-2025
- Business
- Yahoo
WeBuild acquries WA women and babies hospital contract
The Government of Western Australia (WA) has selected WeBuild as the managing contractor for the A$1.8bn ($1.1bn) New Women and Babies Hospital Project. This hospital will replace the King Edward Memorial Hospital, providing enhanced services for women, newborns, and families across the state. The facility will offer comprehensive care, with inpatient services for gynaecology and maternity, a neonatology unit, operating theatres, a family birthing centre, and outpatient clinics. Its location within the Fiona Stanley Hospital precinct is said to improve access for regional patients, facilitated by the Royal Flying Doctor Service. The construction phase of the project is set to generate over 1,400 jobs. The WA Government is also working on doubling maternity services at Osborne Park Hospital and expanding its gynaecology and neonatology departments. The body will also focus on the commissioning and final fit-out of the new hospital, along with the integration of ICT systems and medical equipment. Construction is anticipated to commence later this year, starting with a new multi-deck car park. Georgiou Group secured the contract for this initial phase in January 2025, which will add approximately 2,500 car bays to the precinct. Meanwhile, temporary off-site parking is being arranged to accommodate hospital precinct workers during this phase. WA Health Infrastructure Minister John Carey said: "Today's signing signifies a major step forward which will deliver a brand-new public hospital at the Fiona Stanley Hospital precinct and state-of-the-art health infrastructure. "The New Women and Babies Hospital Project is continuing to progress to schedule, and crucially, we now have a top-tier managing contractor with a breadth of global experience officially on board." Furthermore, the Cook Government will begin consultations with local authorities and key stakeholders next month to improve the transport network around the precinct. The upcoming state budget will allocate A$22m for road upgrades and A$5m to plan future enhancements for Murdoch Train Station. The hospital's construction is set for completion by 2029. "WeBuild acquries WA women and babies hospital contract" was originally created and published by World Construction Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
ABC News
23-05-2025
- Business
- ABC News
Union considering legal action over claims staff locked down during Snowy 2.0 strike
The Australian Workers Union is threatening legal action over the alleged treatment by Snowy 2.0 contractors of striking tunnel workers. More than 1,000 workers walked off the job on the multi-billion dollar pumped hydro energy project on Wednesday in a bid to push for pay similar to their employer WeBuild's workers on the North East Link Tunnels in Melbourne. The union's organiser Darren Cameron met with workers at Snowy Mountains Airport, outside Cooma, on Thursday where he alleged the union had been unable to meet with some members during the strike. "To add insult to injury, the project put out a directive that nobody could leave the project or enter the project," Mr Cameron said. WeBuild and Snowy Hydro have been contacted for comment. Mr Cameron said workers, like their emplyer, want the $12 billion project finished after it was plagued by tunnelling delays in recent years due to what Snowy Hydro called a challenging geological fault zone. Last year, the NSW Department of Planning, Housing and Infrastructure approved an application by Snowy Hydro to use a fourth tunnel boring machine which is set to begin excavating by the end of the year. Mr Cameron said further strike action will go ahead next week if the workers' demands are not met. "The same company is doing exactly the same kind of tunnelling work in Melbourne for 12 per cent more pay," he said. "The conditions on this project are arduous. "These people should be the highest paid tunnellers in Australia, not the lowest, which is the current situation. "We are aiming to change that." He said the pay issue will go before the Fair Work Commission on Tuesday and he hopes it will be resolved before further industrial action next week. The CFMEU's state organiser for the union's Construction and General Branch, Mark Cross, was also in Cooma on Thursday and said the unions have come together to make sure workers are being taken care of following the implosion of a ventilation fan in February. He said safety concerns were impacting the mental health of workers and their families. "The isolation factor of living in a remote camp means communications are not the greatest in terms of being able to reach out to their friends and families," he said. "It is impacting these guys." Electrical Trades Union organiser Jarred Pearce said he had hope the issue of pay parity would be dealt with by the employer. "We are trying to get the right outcome for both wages and safety."
AU Financial Review
22-05-2025
- Business
- AU Financial Review
Snowy Hydro 2.0 facing wave of 24-hour strikes
The country's biggest renewable energy project, the troubled Snowy Hydro 2.0 project, is facing another wave of strikes as more than 1000 workers prepare to stop work for 24 hours next week over pay. The Australian Workers Union notified WeBuild of the strike to take place next Wednesday after workers felt angry that their demands were not being listened to following a 24-hour strike last Wednesday.
ABC News
20-05-2025
- Business
- ABC News
Snowy 2.0 tunnelling workers to walk off job over pay and conditions
More than 1,000 workers on the multi-billion-dollar Snowy 2.0 pumped hydro project plan to strike on Wednesday over demands for improved pay and working conditions. The industrial action comes after the union entered negotiations with the companies employer SC Hydro, demanding an up to 12 per cent pay increase for the project's tunnel workers. Australian Workers' Union NSW branch secretary Tony Callinan said he wants rates to be brought in line with those working on North East Link Tunnels in Melbourne. Clough, a subsidiary of Italian-owned company WeBuild, is involved with both Snowy Hydro and the Melbourne based-project. "People doing the same work in the same industry, even for the same employer, should get the same rate of pay," he said. "They make a choice to work on that project, that's correct, and they're also choosing to exercise their right now to fight for better wages and conditions." Mr Callinan said the employer countered with an offer for a 7.5 per cent up-front pay rise which was declined. Among the demands is a $140 daily camp allowance for fly-in fly-out (FIFO) workers, doubling night shift rates, and two mental health days per year for employees. The union has also demanded that workers are flown in and out of Canberra instead of Cooma airport, improvements to food served to workers, and an approximately 15 per cent increase to the $23 meal allowance provided when workers work overtime unexpectedly. In 2023, SafeWork NSW investigated food hygiene on site after maggots were allegedly found in meals served to workers. Mr Callinan said Australian Workers Union delegates notified of their intention to commence a stop work action last Thursday, after engaging in more than a dozen regular meetings since January. "They're getting frustrated either by no response or by responses that don't meet their expectations," he said. "Then they have to go back to their crews and and explain what happened at the meeting. "Our union delegates are the meat in the sandwich." The Snowy 2.0 project is expected to provide up to 2.2 gigawatts of electricity to the national grid once completed. The controversial project is anticipated to start delivering power in late 2027 following a string of setbacks. Work on the $12 billion project stopped in January when concerns were raised about the status of "last resort" chambers, designed to be used in an emergency when workers were unable to evacuate. Underground work was also halted again for three weeks in late February after a ventilation fan imploded on site and sent metal shrapnel flying through the air. Union representatives will meet with involved parties for their routine meeting on Wednesday. Mr Callinan said the union workers would consider further strike action if demands were not met. "Our members and delegates are currently planning and discussing strategies to put more pressure on the company to come to the table and accept the offer," he said. The ABC has contacted Clough, WeBuild and Snowy Hydro for comment.
Yahoo
17-03-2025
- Business
- Yahoo
WeBuild SpA (IMPJY) Q4 2024 Earnings Call Highlights: Record Revenue and Strategic Growth Amid ...
Release Date: March 14, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. WeBuild SpA (IMPJY) exceeded its 2024 revenue target by over 1 billion, achieving 12 billion in revenues, a 20% increase from 2023. The company achieved a record high EBITDA of 967 million, marking an 18% increase compared to the previous year. WeBuild SpA (IMPJY) maintained a net cash position of 1.4 billion, ensuring financial stability despite higher investments. The company secured 100% of its 2023-2025 order intake, entering 2025 with a backlog of 63 billion, one of the highest in the industry. WeBuild SpA (IMPJY) is ranked first among peers in health and safety, reflecting its commitment to employee well-being. Net financial costs increased by 20 million, with financial expenses rising by 55 million due to bond issues and other financial factors. The company faced losses on investments amounting to 32 million, primarily due to a stop loss agreement related to a project in Turkey. Net exchange gains decreased significantly from 34 million in 2023 to 3 million in 2024. The company anticipates a reduction in interest rates, which could impact borrowing costs, but this remains uncertain. Despite strong performance, the company is not yet including the potential impact of the Messina Bridge project in its 2025 guidance. Warning! GuruFocus has detected 4 Warning Sign with IMPJY. Q: Can you update us on the process to finalize the award of the Messina Bridge and your current stake in the EuroLin consortium? Also, could Germany's $500 billion infrastructure plan and Ukraine's reconstruction be opportunities for WeBuild? A: The Messina Bridge project is nearing approval, with the contract expected to start by the end of April. The design and construction phase will last 7.5 years, completing in 2032. Regarding Germany and Ukraine, WeBuild is focusing on markets where it already has a presence and expertise. The company is ready to contribute to Ukraine's reconstruction when peace is achieved. Q: Can you provide more details on the commercial pipeline, particularly the a30 billion potential in new markets, and update us on the Australian market? A: In Australia, WeBuild's investment in Clough is fully integrated, focusing on transmission lines and energy. The collaborative approach in contracts is significant, with major projects like the Northern Water Desalination Plant and Boomba Pumped Hydro Projects. The a30 billion potential includes tenders submitted and new tenders, with a focus on selective growth and cash collection. Q: Will you present a new industrial plan after the Messina Bridge award, and what are the advanced payment terms for this project? A: The new industrial plan will likely be presented at the beginning of next year. The Messina Bridge contract includes up to 20% advanced payments distributed over several years. The project is not yet included in the backlog as the contract is pending final approval. Q: How is the profitability improvement at Lane, and are the effects of the Messina Bridge included in the guidance? A: Lane is shedding legacy project losses and focusing on disciplined order intake and cost reduction. The aim is to reach break-even by 2025. The Messina Bridge is not included in the current guidance. Q: Does WeBuild have an investment grade rating target, and are there changes in contract structuring for 2025? A: WeBuild is committed to achieving an investment grade rating, with plans aligned to meet financial metrics. There are no changes in the percentage of advanced payments or cost pass-through in contracts for 2025. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
