GS Engineering & Construction is partnering with Australian power grid operator AusNet to expand local transmission and renewable energy infrastructure projects. The two companies are currently collaborating on a bid for the New England Renewable Energy Zone (REZ) project in New South Wales (NSW) and are considering joint ventures or consortiums for major transmission projects.
On October 21, GS Engineering & Construction announced that it signed a memorandum of understanding at AusNet's headquarters to explore joint business opportunities in the energy and infrastructure sectors. AusNet operates the power grid in Victoria, Australia.
This agreement aims to seek joint development and participation opportunities in transmission projects in NSW and Victoria. The collaboration will include not only improvements and expansions of existing transmission networks and the construction of offshore wind power-related grids but also infrastructure related to data centers, hydrogen, and water resources.
The New England REZ, for which the two companies are bidding, is a large-scale renewable energy zone initiative promoted by the NSW government to facilitate the transition to clean energy.
GS Engineering & Construction entered the Australian market in 2021 by winning the North East Link (NEL) road project in Melbourne, which involves constructing a 6.5-kilometer tunnel with a total project cost of approximately 10.1 trillion won. The tunnel boring machine (TBM) for this project was completed in July.
In 2024, the company secured a contract for the Suburban Rail Loop (SRL) East rail tunnel project, valued at around 1.7 billion Australian dollars (approximately 1.6 trillion won), which includes the construction of about 10 kilometers of dual-track TBM tunnels.
GS Engineering & Construction's move into Australia's energy infrastructure has been solidified since early this year. CEO Heo Yoon-hong visited Victoria in February to meet with power industry officials and explore the potential for expanding transmission projects.
A representative from GS Engineering & Construction stated, "We have accumulated understanding and execution capabilities of the local business environment by carrying out large-scale transportation infrastructure projects in Australia. We will strengthen our collaboration with AusNet and expand our business scope into energy infrastructure, including transmission networks."
* This article has been translated by AI.
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