Southern Cross Electrical Engineering (ASX: $SXE) announces over $70m in contract awards

Southern Cross Electrical Engineering Limited (ASX: $SXE) is pleased to announce that its Heyday, SCEE Electrical, and SEME Solutions businesses have secured a range of awards in the data centre and resources sectors, totaling over $70m. The awards include contracts for the NEXTDC SYD03 Artarmon NSW Data Centre and Rio Tinto Iron Ore's Marandoo Mine in New South Wales and Western Australia respectively.

Graeme Dunn, SCEE Group Managing Director, comments on the awards

As we announced with our half year results, this further award from NEXTDC is the first from a pipeline of over $500m of data centre works we are tendering on or positioning for over the next two years for which SCEE Group businesses believe they have a strong chance of success. Having already been a source of significant work for us in recent years, the data centre sector is now showing exponential growth with cloud computing and AI developments. We are also pleased to announce a wide range of sustaining capital and network upgrade projects for our iron ore clients in the Pilbara with whom we have relationships spanning decades.

Summary of Southern Cross Electrical Engineering's contract awards and outlook

Southern Cross Electrical Engineering Limited (ASX: $SXE) has secured over $70m in contract awards for its businesses in the data centre and resources sectors. The company's Managing Director, Graeme Dunn, highlighted the exponential growth in the data centre sector driven by cloud computing and AI developments. Additionally, the company announced a wide range of sustaining capital and network upgrade projects for its iron ore clients in the Pilbara, reflecting the company's strong relationships spanning decades. The outlook for Southern Cross Electrical Engineering appears positive with a pipeline of over $500m of data centre works and continued growth in the resources sector.