Duratec's recent contract awards

Duratec Limited (ASX:DUR) has secured two significant contracts in the Energy and Defence sectors. The company has secured a $21.8 million project for the King Bay Supply Base (KBSB) Wharf Refurbishment with Woodside Energy Ltd and a $54.7 million contract forming part of the Project Phoenix portfolio of work for the Department of Defence in the Northern Territory (NT).

Executive commentary on recent contract awards

We are delighted to be working directly with Woodside as we execute Duratec's wider business strategy to pursue diversification through investment in the Energy sector. The DDR award demonstrates that the Company continues to be a trusted Defence partner, and we look forward to supporting DDR in delivering this significant project. These are exciting steps forward for both Duratec and DDR. - Duratec Managing Director, Chris Oates

Summary of recent contract awards and outlook

Duratec Limited (ASX:DUR) has successfully secured two significant contracts, marking a strategic move towards diversification through investment in the Energy sector and reinforcing its position as a trusted Defence partner. The $21.8 million KBSB Wharf Refurbishment Project with Woodside Energy Ltd and the $54.7 million contract with the Department of Defence in the Northern Territory demonstrate the company's ability to secure substantial projects across different sectors. The projects are anticipated to commence pre-work in late 2024 and early 2025, with expected completion by the end of 2025 and a 30-month duration, respectively. These developments reflect Duratec's ambitions for growth and expansion into new sectors, positioning the company for continued success in the future.