UGL lands significant contract with Power Network Services in Victoria
<img width="250" height="167" src="https://www.leaprate.com/wp-content/uploads/2023/10/FNP-LP-UGL-lands-significant-contract-with-Power-Network-Services-in-Victoria-5319478778iStock-600688368-250×167.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="" decoding="async" style="float: left; margin-right: 5px;" link_thumbnail="" srcset="https://www.leaprate.com/wp-content/uploads/2023/10/FNP-LP-UGL-lands-significant-contract-with-Power-Network-Services-in-Victoria-5319478778iStock-600688368-250×167.jpg 250w, https://www.leaprate.com/wp-content/uploads/2023/10/FNP-LP-UGL-lands-significant-contract-with-Power-Network-Services-in-Victoria-5319478778iStock-600688368-700×467.jpg 700w, https://www.leaprate.com/wp-content/uploads/2023/10/FNP-LP-UGL-lands-significant-contract-with-Power-Network-Services-in-Victoria-5319478778iStock-600688368-768×512.jpg 768w, https://www.leaprate.com/wp-content/uploads/2023/10/FNP-LP-UGL-lands-significant-contract-with-Power-Network-Services-in-Victoria-5319478778iStock-600688368-120×80.jpg 120w, https://www.leaprate.com/wp-content/uploads/2023/10/FNP-LP-UGL-lands-significant-contract-with-Power-Network-Services-in-Victoria-5319478778iStock-600688368-245×163.jpg 245w, https://www.leaprate.com/wp-content/uploads/2023/10/FNP-LP-UGL-lands-significant-contract-with-Power-Network-Services-in-Victoria-5319478778iStock-600688368-500×333.jpg 500w, https://www.leaprate.com/wp-content/uploads/2023/10/FNP-LP-UGL-lands-significant-contract-with-Power-Network-Services-in-Victoria-5319478778iStock-600688368.jpg 1254w" sizes="(max-width: 250px) 100vw, 250px" /><p><span data-contrast="auto">A growing demand for power infrastructure upgrades underpins this contract. As it stands, the deal can potentially generate $80m in UGL revenue. The agreement also includes options for extension.</span><span data-ccp-props="{"134233117":true,"134233118":true,"201341983":0,"335559740":240}"> </span></p>
<p><span data-contrast="auto">The CIMIC group is a diverse engineering-based enterprise focusing on construction, mining, relevant services, and public-private partnerships. UGL is the service specialist branch of this business.</span></p>
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<p><span data-ccp-props="{"134233117":true,"134233118":true,"201341983":0,"335559740":240}"> </span><span data-contrast="auto">Around since 1899, the company employs approximately 25,500 people in 20 countries globally. Juan Santamaria, the executive chairman of the CIMIC group, stated:</span><span data-ccp-props="{"134233117":true,"134233118":true,"201341983":0,"335559740":240}"> </span></p>
<blockquote><p><span data-ccp-props="{"134233117":true,"134233118":true,"201341983":0,"335559740":240}"> </span><span data-contrast="auto">CitiPower and Powercor supply electricity to the majority of Victoria, meeting the power needs of residents, businesses, and infrastructure. We are pleased that UGL’s experience in power generation, transmission and distribution solutions can be used to help serve Victoria’s growing energy requirements.</span><span data-ccp-props="{"134233117":true,"134233118":true,"201341983":0,"335559740":240}"> </span></p></blockquote>
<p><span data-ccp-props="{"134233117":true,"134233118":true,"201341983":0,"335559740":240}"> </span><span data-contrast="auto">The managing director at UGL, Doug Moss, reiterated this sentiment and added:</span><span data-ccp-props="{"134233117":true,"134233118":true,"201341983":0,"335559740":240}"> </span></p>
<blockquote><p><span data-ccp-props="{"134233117":true,"134233118":true,"201341983":0,"335559740":240}"> </span><span data-contrast="auto">At UGL, we’re a market leading service provider across the electricity generation, transmission, and storage sectors. This agreement with PNS allows us to deliver our expertise across the Victorian network, providing a safe and reliable service for the community and providing employment opportunities throughout the state.</span></p></blockquote>
<p><span data-ccp-props="{"134233117":true,"134233118":true,"201341983":0,"335559740":240}"> </span><span data-contrast="auto">At the end of August, UGL reported that it secured four new maintenance, shutdown, and project services agreements in the energy and resources industries. These amount to roughly $165m in revenue.</span><span data-ccp-props="{"134233117":true,"134233118":true,"201341983":0,"335559740":240}"> </span></p>
<p><span data-ccp-props="{"134233117":true,"134233118":true,"201341983":0,"335559740":240}"> </span></p>
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