By Digifin Pty Ltd · About this coverage
Key Points
- All conditions to the Construction Phase have been met, with TasNetworks issuing a Notice to Proceed
- Work under the Construction Phase commences immediately, scheduled for completion in 2029
- Total contract value circa $750m, including the Early Contractor Involvement and Early Works Agreements
- The previously announced ECI and Early Works Agreements were valued at $122m, including long-lead items
About GenusPlus (ASX:GNP)
GenusPlus Group Ltd is an ASX-listed engineering and construction contractor headquartered in Perth. Its work is concentrated in high-voltage electricity transmission and distribution, including overhead lines, underground cabling and substations, and it also builds fibre and telecommunications networks. It operates across Australia.
GenusPlus (ASX:GNP) Group said TasNetworks has issued a Notice to Proceed for the Construction Phase of Stage 1 of its North West Transmission Developments project in Tasmania, with all conditions to which that phase was subject now met. Work under the Construction Phase will commence immediately and is scheduled for completion in 2029. The company said the total contract value for the project, including the previously announced Early Contractor Involvement and Early Works Agreements, is circa $750 million; those earlier agreements, which include the procurement of long-lead items, were valued at $122 million. Genus referred to its ASX announcements dated 24 December 2024, 28 April 2026 and 8 May 2026.
Managing Director David Riches said Genus had worked closely with TasNetworks to reach the milestone and was proud to move into the next phase of delivering the infrastructure. He said the company was committed to creating opportunities for Tasmanians throughout the project, from employing local people to engaging Tasmanian businesses and suppliers. The Board authorised the release of the announcement to the market.
Source: GenusPlus Group Ltd (ASX:GNP), 31 August 2026. Summary content supplied by Digifin Pty Ltd.
News summary only, not financial advice. It does not consider your objectives, financial situation or needs.