as ongoing supply chain constraints and the increasing cost of labour eroded its profits and in some cases led to cost overruns on its projects.
Clough’s flagship project, the Snowy Hydro 2.0, has been particularly beset with delays and cost overruns and is now estimated to be $2 billion over budget.Perth-headquartered Clough is the builder or preferred builder for a range of projects in Western Australia and overseas including the Waitsia gas project in Western Australia, Transgrid’s Energy Connect project and Energy Australia’s Tallawarra project, both in NSW, and the Stephenson Avenue extension in Perth.
As part of the deal, Webuild had agreed to pump $30 million into Clough to meet its working capital needs.
sdanck
mackaysuzie sdanck Didn't Snowy Hydro CEO just get a huge bonus?
sdanck Maybe if we spent the money on a real energy generation project not a half ass toy, snowy hydro only ever took the cream from the spot price and produced f’all! Base load is what we need!
sdanck Really bad news.'Increasing cost of labour' because there is so much demand & competition from Dom_Perrottet's unsustainable projects like road tunnels and metros (which do not reduce car traffic). All these power hungry apartment towers are being built on untested assumptions
sdanck Will Malcolm claim this as a great success (of his)?