About the company:
Watpac limited is engaged in the construction industry and in the work of property development in the country of Australia. Its processes of construction includes building, project management, and construction project management. The company is further engaged in the construction of roads, bridges, dams, airfields, railway works, heavy duty pavements, major earthworks, marine works, and concrete foundation works, as well as undertakes hard landscape works, including retaining walls and architectural pavements.
(Watpac Ltd. Fundamental Company Report Including Financial, 2014)
Operational review and the largest projects undertaken:
The strategic business review of the company started in the financial year 2012 but was concluded during the second half of the financial year 2013. During the course of this reform, the company introduced the following 3 initiatives:
- Exiting the non performing business units
- Elimination of the property debt
- Reduction of the annual overhead costs
The following are the major projects of the company:
- 1. One central Park, Park lane and the Mark:
This is situated in Sydney. It is a project worth $600 million and is considered the largest in the history of the company. As a part of this project, the company is delivering 5 separate residential towers and the around 15,000 m2 of the retail space. This is being done with the help of the joint ventures, Frasers Property Australia and Sekisui House Australia. In respect of the project, one tower is complete and has already been allocated to the residents. The first tower of Park lane is complete and has received a 5 star rating. The remaining towers are scheduled to have be completed by the middle of the financial year 2014.
- 2. Nullagine Iron ore:
Since the year 2010, the company has been providing contracting mining services at the Nullagine Iron Ore. This is a $300million BC project and is located in the Pilbara region of Western Australia. This project is of 5 years and involves surfacing the mining of ore and contract waste of an amount up to 10 Mtpa. During the year 2013, the production of the Nullagine extended to 6Mtpa.
- 3. Darwin International airport expansion:
The design and the construction contract of the stated project was finalised during the financial year 2013. This is a $42million project and the project’s development started in the Northern territory. The project expanded to the domestic and the international terminals ad would enhance the capacity of the airport, the amenities of the passenger’s and the services of the check-ins the project is scheduled to be completed in the middle of the financial year 2014.
- 4. Adelaide Airport Landslide:
The company has already completed its flagship project in the month of March in the financial year 2013 in South Australia. The project of worth $75million and the work involves the construction of the 5 level multi deck car pack facility that comprises of 2,000 spaces and the pedestrian access plaza. It further includes the architectural landscaping, paving, curved feature canopies, which is a 160 metre structural clad plaza screen and links the terminal of the airport and the car park.
- 5. Cockatoo Island Iron Ore project:
In the month of February of the financial year 2013, the company went onto finalise the contract with the Pluton resources in order to mine the iron ore at Cockatoo off the coast of Western Australia. It is a $93million project and will extend to 2 years starting from September, 2012. The company is responsible for all the operational mining and the civil infrastructure series of this project.
- 6. Translational research institute:
The company completed the $240million project along with the Bio Pharmaceuticals Australia Biologics Plant of the Future facility. This is situated adjacent to the Princess Alexandra hospital in Brisbane, in the middle of 2013. This is a 32,000 m2, TRI building that is a one stop shop for the bio-pharmaceuticals. Also, it is the largest of its kind in the entire southern hemisphere.
- 7. RMIT Design Hub:
The company has completed its $80millions project in the month of July of the year 2012. It consist of the landmark of 12,000 m2, is of 12 stories and is a building of research. Lecture and exhibition spaces. The building is now complete and has received a 5 star rating from the Green Building council of Australia Education v1 tool.
1. One central Park, Park lane and the Mark:
3. Darwin International airport expansion:
4. Adelaide Airport Landslide:
Watpac Ltd. Fundamental Company Report Including Financial, C. (2014). Watpac Ltd. Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis. [Online] Marketpublishers.com. Available at: http://marketpublishers.com/report/industry/construction/watpac_ltd_swot_analysis_bac.html [Accessed 3 Oct. 2014].
www.watpac.com.au, (2014). Annual report 2013. [Online] Available at: http://www.watpac.com.au/workspace/attachments/42007-watpac-annual-report-final-web.pdf [Accessed 3 Oct. 2014].