Fletcher-led group wins $1.3B Waterview Connection contract in Auckland
Aug. 19 (BusinessDesk) – A group led by Fletcher Building Ltd. has won the government contract to building the $1.3 billion Waterview Connection project, which links up Auckland’s Western Ring Route.
The project involves almost 5 kilometres of new motorway including two parallel tunnels, 2.4 kilometres in length and interchanges to connect the Southwestern Motorway at Mt Roskill to the Northwestern Motorway at Great North Road, Transport Minister Steven Joyce called it “the largest, most expensive and most complex roading project ever built in New Zealand.
The group, called the ‘Well Connected Consortium’ is made up of Fletcher Construction, McConnell Dowell, Obayashi Corp. and three design companies, Beca, Parsons Brinkerhoff, and Tonkin and Taylor.
The project is expected to take five years.
Shares of Fletcher fell 2.6% to $7.74,outpacing a broader decline in the NZX50 Index today.