Synertec adds to tier-one project pipeline, with $3m design retainer for new $11bn Metro Tunnel Project in Melbourne
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The deal marks further confirmation of Synertec’s place as a leading engineering and technology firm at the forefront of the ESG transition.
Diversified technology design and development growth company Synertec (ASX:SOP) has announced a major new contract win, with its selection as a key designer of choice as part of the $11bn Metro Tunnel Project (MTP).
Synertec’s scope will be to design and deliver the Control and Monitoring System that will allow for the safe operation of the tunnel, seeing the project through to end-point operations from the concept stage.
The company expects to generate revenues of around $3m from the deal, if completed and delivered in line with the MTP’s estimated completion date of December 2024.
Commenting on the announcement, Synertec Managing Director Michael Carroll said the contract win on such a major project “says a lot” about the company.
“It talks to our strategy, our people and our culture of embracing new ideas and processes for the benefit of our customers and our community, and our track record in delivering critical infrastructure in complex environments and to demanding timelines,” Carroll said.
“It’s also further demonstration of, and pleasing reward from, our strategy of ‘Projects, Programs, Technology’, underscored by Reputation, Value, Trust and Partnerships.
“Appreciating the amazing quality of our Tier-1, blue-chip customer base and our deep domain knowledge of their respective businesses and industries which we have developed over two decades, we have consciously increased our focus on deepening those relationships and unlocking more opportunities, such as this project with Metro Trains Melbourne, helping our customers solve engineering challenges and their transition to a low carbon future.”
The MTP adds to Synertec’s diversified suite of ESG-focused technologies and tier-one engineering and consulting projects, including an MoU with oil & gas major Santos to build a renewable power energy system for its Myalla coal-seam-gas development in Roma, Queensland.
Those projects are in addition to the development of Synertec’s Composite Dry Powder (CDP) technology – an environmentally-friendly solution for the treatment of oil & gas drilling and mud cuttings – and its leading Custody Transfer System which improves efficiency in marine vessel LNG transfers.
Taken in aggregate, Synertec’s work pipeline places it at the leading edge of the ESG transition, where its in-house intellectual property and knowledge base gives it a competitive advantage in the market.
Synertec’s Control and Monitoring System (CMS) will be deployed across multiple facilities and control rooms through the tunnel system.
The role of the CMS will be to provide rail operators with critical operational interfaces across the network to ensure its operational safety and reliability.
Those functions will include an advanced graphical user interface to control and monitor all of the tunnel’s operating equipment, data analysis, historical data storage and the installation of a tunnel-wide alarm system.
The CMS will also be built to integrate with other critical-infrastructure systems including the CCTV network, security systems, platform screen doors, tunnel ventilation and fire detection systems.
In that context, the contract win “continues to demonstrate Synertec’s growing reputation for addressing complex challenges with innovative solutions”, the company said.
And it also marks confirmation of the company’s long-standing commercial partnership with Metro Trains Melbourne.
Construction of the MTP is expected to revolutionise Melbourne’s transport infrastructure, by diverting three of the city’s busiest train lines onto an underground loop, thus creating additional space on the rail network.
The project will include the construction of twin 9km rail tunnels, with new underground stations at five separate city locations.
This article was developed in collaboration with Synertec, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.