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FAQ's
What are the implications of being foreign owned when tendering for defence & government work?
STRABAG seeking Foreign Investment Review Board (FIRB) approval is to enable their entry into the Australian market and tender for opportunities across all clients, including Government (Defence).
Being foreign owned is not unusual in the Australian market. For example, CPB Contractors Pty Ltd is owned by CIMIC Group (which is 71% owned by a German construction company Hochtief). CPB are currently delivering several Defence projects including:
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North Queensland Mid-Term Refresh: This project includes upgrades and maintenance at RAAF Base Townsville, Townsville Field Training Area, and HMAS Cairns.
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Upgrades to RAAF Bases Curtin and Learmonth: upgrading runways, taxiways, parking areas, and aeronautical ground lighting at these Western Australian bases.
Similarly, Georgiou Group Pty Ltd will continue to pursue Government and Defence projects under the new ownership.
What is the expected time frame that we could expect for being able to start utilising STRABAG experience and project profiles in our future pursuits?
As we are still in negotiations, we will continue to go to market as Georgiou Group utilising our experience. If the deal is finalised, we will provide further advice. However, if there are Joint Venture opportunities between Georgiou and STRABAG, this can be explored.
Will Georgiou provide Parent Company Guarantees when tendering for work? Will this apply retrospectively on existing Contracts?
In some cases, yes, we will be required to provide Parent Company Guarantees.
Will our projects continue to operate under the same contracts and conditions?
Yes.
Will our projects require any changes to our insurances?
No. We will use the greater purchase power of STRABAG when policies are up for renewal.
Will our proposals for future work be for Georgiou or STRABAG?
Georgiou.