Gamuda forges ahead with diversification
From its core engineering and infrastructure business, Gamuda expands its horizons to enter the Australian clean energy sector, with a clear focus on partnerships.
Gamuda has been rapidly securing new projects across Australia since its establishment in 2019. Its business focuses on infrastructure design, engineering and construction across roads, rail, bridges, tunneling, water management and, recently, renewable energy.
Ewan Yee, CEO of Gamuda Australia, says: “Over the last six years, our commitment to establishing Gamuda as a key player in the Australian infrastructure landscape has been unwavering.
“From groundbreaking projects to a robust focus on partnerships, sustainability and innovation, our Australian journey exemplifies the values and ambitions that define Gamuda.”
The journey began when Gamuda Berhad, a Malaysia-based company with a global footprint, was invited by Austrade to explore business opportunities in Australia.
A Competitive Market
Gamuda entered the market at the start of the infrastructure boom, which followed the approval of several key government-funded projects. Along with Gamuda, several key international players had moved into Australia, creating a highly competitive environment.
Despite this, Gamuda, led by Yee, attracted some of Australia’s best talent to help him fulfil his mission of establishing the company as a tier 1 contractor in Australia. While Covid-19 slowed down the pace at which projects were being awarded, Gamuda didn’t have to wait long for its first win, securing the Sydney Metro West – Western Tunneling Package in 2020. The following year, Gamuda won two more projects, The Coffs Harbour Bypass and M1 Motorway Extension to Raymond Terrace—with a total value of US$3.2 billion.
Expanding Capability
In 2022, Gamuda sought to expand its capabilities and footprint in Australia with a strategic acquisition of a local company. After a lengthy search, Gamuda acquired Melbourne-based Tunneling Solutions, which specializes in mined tunneling and drill-and-blast capabilities, to complement its in-house capabilities.
Due to the large pipeline of projects, Gamuda sought to develop further capabilities in Australia. The following year, Gamuda acquired Downer’s Australian Transport Projects (DTP) division from Downer EDI, now operating as DT Infrastructure.
Despite the successful acquisitions and project wins, the company wasn’t content with holding on to familiar industries. It cast its eyes on a new growth space—clean energy.
Foray Into Renewables
In early 2024, under the leadership of Chief Strategy and Revenue Officer Jarred Hardman, Gamuda announced its intentions to focus its efforts on the A$328 billion (US$215.5 billion) clean energy and renewables infrastructure market. According to Hardman, “Gamuda’s strategy will go beyond the construction of renewable projects to invest up to 40% equity in solar and wind assets to build a portfolio within five years.”
Gamuda Berhad already had several clean energy projects under its belt and secured strategic partnerships through its 30% equity interest in Malaysian solar turnkey service provider, ERS Energy. This further paved the way for Gamuda to strengthen its foothold in the regional renewable energy markets.
“As an organization, we saw that we had the building blocks of being able to say that we can transition into a new sector,” says Hardman.
Within six months, Gamuda was engaged at the Early Contractor Involvement stage in projects such as the Capricornia Pumped Hydro , backed by Copenhagen Infrastructure Partners (CIP), and Alinta Energy’s Oven Mountain Pumped Hydro Energy Project.
“This was a great first step into the renewables space. Being involved early on means we can help work with the client, influence the design and produce the best outcome for the client and community,” Hardman says.
A Pinnacle Partnership
Gamuda struck a successful partnership in the renewable energy space after engaging with Alternate Path, which represents the renowned Tasmanian landowners, the Downie family. The equity investment projects, Weasel Farm and Cellars Hill, are based in central Tasmania with a combined capacity of 600 MW of wind and solar energy generation and up to 600 MW of battery storage.
As the Downie family has held pastoral land for over 200 years in this island state of
Australia, the Tasmanian portfolio is fundamentally landowner-led.
Gamuda is also committed to upholding community-first principles such as maintaining existing agricultural and forestry practices. Additional benefits include power subsidies for households within a 12-km radius of the wind farm, as well as job opportunities and local procurement opportunities.
Hardman says: “We want to make sure that the community is engaged and that the landowners are a part of that journey—essentially having that co-development construct.”
He adds, “Collaboration and partnerships are paramount.”
Gamuda will take an equity stake in the portfolio to secure development rights for the current and future projects and deliver them under sole-source Engineering, Procurement, and Construction (EPC) contracts. This will establish the company’s pipeline of energy construction work through to 2029.
Against a competitive landscape, Gamuda is confident about its growth and expansion through diversification into clean energy. “The future is bright for Gamuda in Australia as we leverage our strong foundations to capture even more opportunities in infrastructure and renewables. We are committed to innovation, excellence and sustainable growth in every project we undertake,” says Yee.
Gamuda, DTI, Tunneling Solutions, and Gamuda Land collectively operate under the Gamuda Australia Group of Companies within the Australian market. This group has been operating in Australia for over a decade, employing a team of over 2,300 people across six states and delivering more than 50 projects nationally.