Webuild has fully acquired Clough’s assets in Australia and Papua New Guinea and is now in operational control of Clough’s activities across the two nations.
The acquisition will see Webuild acquire Clough’s organisation, workforce offices, senior management and more, as well as more than $6 billion worth of projects in backlog (as of end 2022). These projects include works such as Snowy 2.0 and the Inland Rail.
Webuild is already engaged in the delivery of other significant transport projects in Australia, including Sydney Metro-Western Sydney Airport and Victoria’s North East Link Program.
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Webuild now has a total order backlog of more than $18.5 billion and around 3000 employees in Australia. In the 50 countries where the combined group operates, the workforce will total 83,000.
Peter Bennett, Clough CEO and Managing Director said the acquisition was a fantastic outcome for the continued growth of the business.
“We will now be better positioned than ever to deliver our diverse and significant pipeline, to continue pursuing the innovative and challenging projects our strong history has been built upon, and most importantly, to continue providing solutions to our clients and opportunities to our employees and the community at large,” Bennett said.
Webuild specialises in the construction of infrastructure for the sustainable mobility, hydroelectric energy, water and green buildings sectors. Clough delivers assets for the energy, resources and infrastructure industries.