Joint venture for Thiess in WA

Posted: 2012-02-23

Partnership contracts can differ from sole-business undertakings in a number of ways. Logistical and organisational considerations can have a greater effect on outcomes when a collective of companies are involved.

There can be similarities, however, in setting up operational elements prior to project commencement.

Examining issues such as workplace safety and budgeting - including talking to your broker about which construction insurance policy might best cover your requirements - can be things which all parties involved deal with individually.

However the strength of a partnership can lie in the combining of specialised abilities that produces a unique result.

Bruce Munro, managing director of Thiess, described its new partnership with with EV LNG, saying: "[The joint venture] brings a unique combination of capabilities that will deliver a high quality outcome and bring certainty to these large complex projects."

The two companies will work together on storage development for the Wheatstone Project, WA's liquefied natural gas and domestic gas undertaking.

According to Thiess the $500 million contract will create 475 new jobs, and three-quarters of the work will happen in Australia. Site construction will commence in 2013 and is scheduled to finish in 2016.