Clough is pleased to announce that from February 16, 2023, Webuild has acquired 100% of the ownership of Clough in Australia and Papua New Guinea.
The final acquisition perimeter comprises Clough’s organisation, offices, trademarks, credentials, business references, senior management, and office personnel and more than AUD$6 billion worth of projects in backlog (as of end 2022), and the related project workforce in Australia and PNG.
In terms of projects, the transaction includes Snowy 2.0 and Inland Rail Gowrie-Kagaru Section, which are joint projects with Webuild, Tallawarra Stage B, Waitsia Gas Project Stage 2 and Lombrum Naval Base, as well as the projects in which Clough is preferred bidder, such as Ceres Urea Plant, Mt Keith Debottle-necking, Woodman Point Treatment Plant, and Darwin Shiplift.
Peter Bennett, Clough CEO and Managing Director said “This is a fantastic outcome for the continued growth of Clough and I would like to sincerely thank every employee for their hard work, patience, and commitment over the last few months. We will now be better positioned than ever to deliver our diverse and significant pipeline, to continue pursuing the innovative and challenging projects our strong history has been built upon, and most importantly, to continue providing solutions to our clients and opportunities to our employees and the community at large. Together we are stronger”.
Webuild, the new Group born in 2020 from Salini Impregilo, is a leading global player in the construction of large, complex projects for sustainable mobility (rail, metro, bridges, roads, ports), hydropower (dams, power plants), water (treatment and desalination plants, wastewater management, irrigation dams) and green buildings (civil and industrial buildings, airports, stadiums, hospitals).
We are a pioneering project delivery company. We deliver high performing assets for the energy, resources and infrastructure industry underpinned by a dedication to innovation, sustainability and getting the job done safely and efficiently.
Our diverse workforce of over 1,000 people across Australia and Asia Pacific is committed to providing exceptional solutions that benefit our business, clients, and communities.
Following the acquisition by global construction leader Webuild in 2023, Clough Group became a wholly owned subsidiary of Webuild SPA.