Decmil (ASX: DCG) Being Awarded For SUNRAYSIA Project Worth $277 Million.

  • Oct 08, 2018 AEDT
  • Team Kalkine
Decmil (ASX: DCG) Being Awarded For SUNRAYSIA Project Worth $277 Million.

Decmil Group Limited (ASX: DCG) is a 40 years old company based in Australia has been awarded a contract for EPC by Maoneng for its 255MW Sunraysia Solar PV projects at Balranald in New South Wales.

Both companies i.e., Decmil group and Maoneng is targeting to use their complimentary skills to successfully deliver this project to the Australian renewable energy market. For this, Decmil wants to have a partnership with Maoneng.

Maoneng has entered into a long-term equity partnership with global infrastructure and Manager John Laing group in order to invest and contribute in the development of Sunraysia project.

Maoneng is the first company who has successfully developed, built and owned a utility-scale solar PV plant in Australia. The Company’s mission is to assist Australia to be a low carbon society by developing sustainable social infrastructure.

The factor which influenced Maoneng to have Decmil as partners is the confidence which Maoneng has on Decmil. Maoneng is confident about Decmil’s commitment and resources towards the project. The Sunraysia project is Maoneng’s second project in the Australian market and built under the ACT Government’s Reverse Solar Auction. 

In FY 2017, the company had incurred a huge loss which was A$ 28.34 m which got reduced in the year 2018 with a net loss of A$ 6.13m. The company has a cash reserve of A$ 16.75m and total current asset which comes to be A$ 97.87 m. The Company’s total asset value has gone up to A$ 303.65 Mn in FY 2018 as compared to the previous year. Also, side by side the company’s liabilities have also gone up due to trade and other payables.

If we see the performance report of the company for the past one year, the company has not performed well and its performance has done down up to -34.27%. This was further poor we see the 5 years performance report which is -63.78%. However, if we see its performance for the past 10 years it has performed exceptionally well with the performance report of 223.0%. As per the charting pattern of the share prices, it is observed that the market is going to be bullish and the prices will further go up. The stock traded at A$ 0.820 with the market-cap of circa $163.62 Mn as on August 08, 2018 (AEST – 03:23 P.M.).

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