AVENG LIMITED - Announcement of new contracts by A21 Jan 2019
AEG 201901210023A
Announcement of new contracts by Australian subsidiary Mcconnell Dowell

AVENG LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1944/018119/06)
Share code: AEG
Share ISIN: ZAE000194940
 ("Aveng", "the Company")

ANNOUNCEMENT OF NEW CONTRACTS BY AUSTRALIAN SUBSIDIARY MCCONNELL DOWELL

Salient features:
     Awards received in FY 2019 Q2 total over R4.0 billion. Total awards for FY 2019 to date
      total over R8.5 billion
     Contract awards in FY 2019 supports McConnell Dowell's baseline revenue for FY 2020
      and beyond
     McConnell Dowell continues to advance its Strategic Plan of steady growth as a reliable
      high performing valued business partner

UPDATE ON ORDER BOOK & RECENT MAJOR CONTRACT AWARDS

Aveng is pleased to provide an update on recent contract awards secured by the Group's Australian
subsidiary, McConnell Dowell, a core business within the Aveng Group. A key priority in its Strategic Plan
is to deliver long term sustainable growth.

McConnell Dowell is a respected specialist infrastructure contractor providing engineering and
construction solutions to the infrastructure, building and resource sectors across Australia, New Zealand
and the Pacific and Southeast Asia. Its latest contract awards reaffirms the disciplined growth agenda and
reflects the growing momentum and demand for its specialist capabilities against a backdrop of strong
opportunities and competition across its operating regions. The business is well positioned to take
advantage of the significant market opportunities in which it operates.

Key contracts awarded during FY 2019 Q2 include:

Tuas Water Reclamation Project (Singapore): The Tuas Water Reclamation Plant is a highly strategic
and important infrastructure project that will deliver substantial environmental and social benefits to
Singapore and its people. This award comes after McConnell Dowell's successful completion late last
year of the complex Tuas Road bridge project for a related Singapore Government entity in the Tuas
vicinity. McConnell Dowell will provide site-wide facilities and support services for the Tuas Facility
including construction of the outfall, sewer connections in the vicinity, as well as the provision and
maintenance of services such as security, utilities, telecommunications, traffic management. When
completed, the Tuas Facility will be the largest water reclamation plant in Singapore to use membrane
bioreactor technology.

Wingfold Tower (Australia): Following a change of ownership of this development site, McConnell
Dowell's subsidiary Built Environs will continue work on the 25 level luxury apartment complex in
Adelaide's CBD under a new construction contract. Construction will resume in early 2019 and is
scheduled for completion in 2020.

Pukekohe Wastewater Treatment Plant (New Zealand): McConnell Dowell's joint venture with HEB
Construction Ltd will cement its reputation as the leading provider of wastewater development projects in
New Zealand with this significant treatment plant upgrade required to service the growing South Auckland
region. The new facility will double the plant's capacity and works will begin immediately. The award of
this project builds upon the successful completion of the award-winning BNR project in 2018.

Wynyard Edge Alliance (New Zealand): McConnell Dowell's reputation for marine works has been
further enhanced by being selected to execute the Wynyard Edge Alliance in Auckland. Working
alongside Downer, BECA, Tonkin + Taylor, Auckland Council and MBIE, the Alliance will design and
                                              th
construct the infrastructure to support the 36 America's Cup in New Zealand to be held in 2021.

Stanley Street Stormwater Upgrade (New Zealand): McConnell Dowell will deliver stormwater upgrade
and outlet works for the Ports of Auckland.

These recent contract awards cement McConnell Dowell's position in key strategic markets, including
commercial real estate, water and waste water and marine sectors. Moreover, the awards underpin
McConnell Dowell's Strategic Plan of steady growth, reliable performance and in being a valued business
partner through a disciplined and highly-focused project pursuit pipeline. The awards confirm McConnell
Dowell's progress under its business strategy to build a platform for long term, sustained growth and
profitability.

The awards in the first half of FY2019 total over R8.5 billion, taking McConnell Dowell's Order Book to
R11.4 billion as at 31 December 2018 (up 50% from R7.6 billion as at 30 June 2018). With a healthy level
of work in Early Client Involvement (ECI) status, McConnell Dowell is well-positioned to continue to
secure additional work in the near term.

This supports McConnell Dowell's baseline revenue for FY 2020 and beyond, providing a strong base for
continued growth across its core markets and operating regions. In addition, the market sectors that
McConnell Dowell services are expected to see ongoing positive conditions, offering growth opportunities
with the continued roll out of medium and large-sized projects.


The information contained in this announcement has not been reviewed and reported on by the
Company's external auditors

Jet Park
21 January 2019

JSE Sponsor
UBS South Africa Proprietary Limited




Michael Canterbury
Group Executive: Strategy & Investor Relations
Tel: 011 779 2979
Email: michael.canterbury@avenggroup.com

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