John Holland’s Chinese links won’t stop it from bidding for billions of dollars of electricity transmission projects as it tries to snare a share of the boom in renewable energy infrastructure.
While John Holland’s nine-member board is led by non-executive chairman Bo Wang, an executive general manager at CCCC subsidiary the China Road and Bridge Corporation, it operates as a separate entity with its own internal systems, including software, Mr Barr underscored.
The CEO attended a conference in Hainan in south China in late February, which was organised by CCCC, to meet with some 150 other people working for the company’s businesses in other countries “to swap notes”.had put it on a “pretty good growth path” Mr Barr said. The construction and engineering group is eyeing billions of dollars of electricity transmission networks slated to connect new renewable energy zones in Queensland, NSW and Victoria.While in the past John Holland has done smaller energy projects worth $40 million to $50 million, it is now targeting projects worth more than $1 billion and up to the $6 billion to $8 billion range.
Mr Barr said he was unaware of any changes to state governments’ plans to build transmission links despite the Australian Energy Market OperatorJohn Holland was preparing for “a more regional focus” and wants to include local communities on projects, including Indigenous communities, whether that be working directly on site or providing services such as accommodation, Mr Barr said.
The company wants energy projects to eventually comprise a quarter of its $6 billion in annual revenues. But it is being more careful about the risks it absorbsThis included being clear about unknown risks, and avoiding the temptation to price them, Mr Barr said. “Inevitably you won’t be right,” he said. “And competitive pressure means you are not likely to price them rationally.”
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