Fredon, the electrical and mechanical arm of NRW Holdings (ASX:NWH), has secured $120 million in new contracts across Victoria and Western Australia, reinforcing its role in critical infrastructure projects.
- $69M expansion on Lend Lease data centre contract
- $26M electrical package for Bunbury Hospital Redevelopment
- Projects support modern regional infrastructure and student accommodation
- Contracts extend Fredon’s work pipeline through to mid-2028
Fredon Expands Major Infrastructure Footprint
NRW Holdings' subsidiary Fredon has added approximately $120 million in new contracts to its already substantial project portfolio, including a $69 million electrical package extension for a Lend Lease data centre in Victoria. This brings Fredon’s total contract value for that site to around $155 million, with completion scheduled for August 2027. The size and complexity of this contract underscore Fredon’s growing footprint in delivering sophisticated infrastructure in live environments.
Healthcare and Education Projects Drive Growth
Fredon’s contract haul also includes a $26 million electrical and communications package for the Bunbury Hospital Redevelopment in Western Australia, set to become one of the most modern regional hospital facilities upon its completion in April 2028. Additionally, the company secured a $16 million contract for electrical, ICT, and security works at the University of Western Australia’s Nedlands Student Accommodation project, a 14-storey development due for completion in June 2027. These projects highlight Fredon’s expanding role in supporting essential services and infrastructure for regional communities.Urban Student Accommodation Adds to Portfolio
Rounding out the contract wins is a $10 million electrical and security package for the 609 Wellington Street Purpose Built Student Accommodation project in Perth CBD, which will provide 835 beds and is scheduled for completion by June 2027. This contract aligns with Fredon’s demonstrated capability in delivering complex, multi-disciplinary infrastructure projects in urban centres.Fredon CEO Scott Olsen emphasised the company’s expertise in handling critical infrastructure projects within live environments, a capability that has earned trust from major clients. NRW Holdings CEO Jules Pemberton noted that these contract awards not only reflect Fredon’s operational diversity since acquisition but also its strategic importance in servicing growing regional markets.
These latest contracts complement a series of recent wins that have been steadily building Fredon’s presence across Australia. For instance, just last month, Fredon secured $160 million in multi-state electrical and mechanical contracts, spanning major infrastructure and health projects, further extending its delivery pipeline through to mid-2028. This momentum is a key driver behind NRW Holdings’ broader infrastructure strategy and revenue growth ambitions, as seen in their reaffirmed $4.2 billion revenue target supported by a $7.5 billion order book earlier this month.
With a workforce of around 13,400 people and operations across Australia, Canada, and the United States, NRW Holdings continues to leverage Fredon’s capabilities to diversify and strengthen its service offerings across civil construction, mining, and infrastructure sectors.
Bottom Line?
Fredon’s latest contract haul solidifies its position as a critical electrical and mechanical services provider, with a robust project pipeline that should support NRW Holdings’ revenue growth through to 2028.
Questions in the middle?
- How will Fredon’s expanding project pipeline impact NRW Holdings’ margin profile?
- What risks could arise from managing multiple large-scale live environment projects simultaneously?
- Could further acquisitions accelerate Fredon’s growth in new sectors or regions?