NRW shares rise after securing $120m contracts across VIC, WA

The news: Shares in NRW Holdings rose in afternoon trade after the company secured several contracts across Victoria and Western Australia through its subsidiary Fredon valued at approximately $120 million.

Shares have risen 3.2% to $7.43 at 2:51pm AEST.

The context: The contracts include an additional $69 million electrical package for work on existing data centre projects in Victoria, a $26 million electrical and communications package for the Bunbury Hospital in Western Australia, and a $16 million security package for a University of Western Australia student accomodation project.

Fredon also secured a $10 million electrical and security package for a Perth-based student accomodation project.

What they said: “Fredon’s ability to deliver critical infrastructure projects in live environments is recognised across Australia and is why we have been entrusted to deliver these complex contracts,” Fredon CEO Scott Olsen said.