Murray & Roberts in the pink after bagging plum US project
Deal gives contractor a relatively low-risk entry to the fast-growing gas and petrochemical market in the US
News that Murray & Roberts subsidiary Clough USA has bagged a $620m petrochemical engineering, procurement and construction contract in the US came at a great time for the engineering and mining contractor.
The deal has given the company a relatively low-risk entry to the fast-growing gas and petrochemical market in the US. It vindicates M&R’s strategy to diversify through strategic acquisitions by its different business platforms across different geographic regions.
While the company’s underground mining platform operates in relatively favourable conditions and has delivered strong growth, the same cannot be said about the oil and gas, and power and water, businesses...