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Transfield Services Secures $200m of Work

Transfield Services secures A$200 million of work with Australian Rail Track Corporation. 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 power, defence, transport and social infrastructure, providing continuing diversification for the business.