Administrator Deloitte is expected to finally disclose the outcome of long-running negotiations with the Italian company over remaining projects.
Clough’s administrators, Deloitte, are expected to this week finally disclose the outcome of long-running negotiations with Italy’s Webuild over the future of the collapsed construction group’s remaining projects, after talks were extended until midnight Monday.
The Italian group had previously agreed to take full control of the Snowy 2.0 hydropower and Inland Rail projects and had been evaluating which other Clough contracts to take on. Among the construction projects most affected by Clough’s collapse is the $768 million Waitsia gas project under construction in Western Australia, where the contractor was working alone.The project, owned by Japan’s Mitsui and ASX-listed Beach Energy, is due to start producing gas for processing into liquefied natural gas in the second half of this year.
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