Watpac Limited (ASX:WTP) adds $75 million contract to project pipeline

Construction and engineering company Watpac Limited (ASX: WTP) has bolted another project onto its busy pipeline of activity

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Construction and engineering company Watpac Limited (ASX: WTP)  has bolted another project onto its busy pipeline of activity after being awarded a $75 million contract this week to deliver a secure data centre in Melbourne which will include the construction of a new four-level centre.

Watpac will undertake extensive civil works and provide temporary services and structures to enable the continued use of the existing facility during the upgrade.

The contract win comes after Watpac was awarded a $74 million contract for Roma Hospital's redevelopment early this month which will include construction of a three-level building.

Watpac has also committed to a $49 million contract for student accommodation in Melbourne and a $110 million contract to design and build the new Deakin Law School building.

Watpac is clearly focused on growth as it continues to take on large-scale projects, with cousins in the building materials segment such as Boral Limited (ASX: BLD) and Brickworks Limited (ASX: BKW) always bolstered by new construction activities on home soil due to volatile housing market conditions.

Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Brickworks. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Cheap Shares

A group of market analysts sit and stand around their computers in an open-plan office environment. The central figures are deep in thought about Megaport's recent earnings release
Cheap Shares

2 ASX 300 shares highly recommended to buy: Experts

These businesses may be severely underrated by the market.

Read more »

a smiling picture of legendary US investment guru Warren Buffett.
Cheap Shares

I'm listening to Warren Buffett and buying cheap ASX shares

Attractively valued ASX shares are a great call right now, in my view.

Read more »

Dog with a shoe in its mouth.
Cheap Shares

I think these 2 cheap ASX shares are buys for value investors

These businesses could be too cheap to ignore.

Read more »

An Australian farmer wearing a beaten-up akubra hat and work shirt leans on a fence with livestock in the background and a blue sky above.
Cheap Shares

Why I think these 2 ASX 300 shares are steals

These ASX shares have a lot of potential, in my view.

Read more »

Smiling couple looking at a phone at a bargain opportunity.
Cheap Shares

2 cheap ASX 200 shares that look too good to ignore today

Cheap shares are hard, but not impossible, to find right now.

Read more »

A cool dude looks back at the camera while ziplining above the treetops.
Cheap Shares

2 great ASX shares to buy in July: experts

These companies have a lot going for them. Here’s why.

Read more »

A young women pumps her fists in excitement after seeing some good news on her laptop.
Cheap Shares

In an expensive market, 2 ASX 200 companies too cheap to ignore

These two businesses seem far too cheap for what could happen next.

Read more »

a man and a woman kneel in a boxing ring with exaggerated make-up injuries, posing in humorous stance with the woman leaning back on her knees and the man leaning against her bright pink boxing glove as he gasps for air.
Cheap Shares

Is it time to buy these 2 beaten-up ASX shares in 2025?

These ASX shares could be great buys right now.

Read more »