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Watpac Limited (ASX:WTP) adds $75 million contract to project pipeline

Construction and engineering company Watpac Limited (ASX: WTP)  has bolted another project onto its busy pipeline of activity after being awarded a $75 million contract this week to deliver a secure data centre in Melbourne which will include the construction of a new four-level centre.

Watpac will undertake extensive civil works and provide temporary services and structures to enable the continued use of the existing facility during the upgrade.

The contract win comes after Watpac was awarded a $74 million contract for Roma Hospital’s redevelopment early this month which will include construction of a three-level building.

Watpac has also committed to a $49 million contract for student accommodation in Melbourne and a $110 million contract to design and build the new Deakin Law School building.

Watpac is clearly focused on growth as it continues to take on large-scale projects, with cousins in the building materials segment such as Boral Limited (ASX: BLD) and Brickworks Limited (ASX: BKW) always bolstered by new construction activities on home soil due to volatile housing market conditions.

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Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Brickworks. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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