Lendlease (ASX:LLC) responds to Melbourne Metro media reports

  • November 15, 2020 12:59 AM AEDT
  • Team Kalkine
    Team Kalkine
    Team Kalkine
    16964 Posts

    Team Kalkine comprises of experts who understand various markets nuances and are enthusiastic and passionate to provide best possible offerings in the form of insights and stories. The team has rich experience of working across different markets with...

The real estate giant Lendlease Group (ASX:LLC) has responded to the leaked documents of cost invasions and construction delays on the $11 billion worth of Melbourne Metro Rail project.

There were classified government reports leaked to a newspaper that revealed the disagreement between the Cross Yarra Partnership Consortium (CYP) led by Lendlease and the state government on projected $3.3 billion cost blowout and considerable delays.

On 13 November, the company, via an ASX announcement declared that the quiet and sensitive discussions between the parties to ratify revising documents are ongoing and likely to be finalised in the upcoming weeks.

LLC also stated that in June 2020, CYP signed a Commercial Principles Deed with the government of Victoria according to which agreement was established for some non-binding principles to solve the issues regarding the project.

Meanwhile, the LLC stock closed at $14.280 along with a market cap of $9.91 billion.




The website https://kalkinemedia.com/au is a service of Kalkine Media Pty. Ltd. (Kalkine Media) A.C.N. 629 651 672. The principal purpose of the content on this website is to provide factual information only and does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) or engage in any investment activity under discussion. We are neither licensed nor qualified to provide investment advice through this platform. In providing you with the content on this website, we have not considered your objectives, financial situation or needs. You should make your own enquiries and obtain your own independent advice prior to making any financial decisions.
Some of the images that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed on this website unless stated otherwise. The images that may be used on this website are taken from various sources on the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image. The information provided on the website is in good faith, however Kalkine Media does not make any representation or warranty regarding the content, accuracy, or use of the content on the website.


We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK