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Saunders (ASX:SND) bags A$44M contract for fuel terminal at Western Sydney International Airport

October 27, 2022 12:50 AM EDT | By Ankur Jaiswal
 Saunders (ASX:SND) bags A$44M contract for fuel terminal at Western Sydney International Airport
Image source: Multiplex

Highlights

  • Saunders has announced a significant win worth circa A$44 million.
  • The contract is for the construction of an aviation fuel terminal at the new Western Sydney International airport.
  • The contract will boost Saunders’ revenue and earnings through FY23 and into FY24.

ASX-listed multi-disciplined engineering and construction company Saunders International Limited (ASX:SND) has boosted its orderbook with a new contract valued at circa A$44 million.

The contract awarded by Multiplex Construction Pty Ltd is for the construction of an aviation fuel terminal at the new Western Sydney International airport, also known as the ‘Nancy Bird Walton’ Airport.

Latest contract – “A significant win for Saunders”

Saunders believes this development will positively impact its healthy orderbook as the contract will strengthen revenue and earnings through FY23 and into FY24.

As per the contract, Saunders will be executing the design and construction of the following based on the scope of work for this project:

  • Three aviation fuel storage tanks
  • Mechanical piping, valves, pumps, filters, instrumentation, and controls of the aviation fuel terminal
  • Electrical services, which include cabling and switchboards, Supervisory Control and Data Acquisition (SCADA) electrical and controls of the terminal

Saunders’ client base includes leading organisations in Australia and the Pacific Region. The company caters to its clients with design, fabrication, construction, shutdown, maintenance, and other industrial automation services.

The group is an innovative, cost-effective solution provider, catering to the oil & gas, infrastructure, water, power, new energy, mining & minerals and defence sectors.  

‘Nancy Bird Walton’ Airport

Saunders’ construction contract will constitute the first stage of the development of Western Sydney International Airport, which is currently on course to start its international, domestic and air cargo services in late 2026.

The airport will have the capacity to manage 10 million passengers annually.   

SND share price information

Saunders’ shares, which have given ~8% YTD return, were trading at A$1.035 midday on 27 October 2022.

Read more about Saunders’ services here   


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