Clough's Troubles Could Roil Major Mining, LNG Projects
Attachment: Clough 1222
December 7, 2022--Researched by Industrial Info Resources (Sugar Land, Texas)--A swath of energy, mining and rail-transportation projects across the globe were facing uncertain futures after Clough Group (Perth, Australia) was placed into voluntary administration. Its parent company, Murray & Roberts Holdings Limited (Bedfordview, South Africa), failed to secure an anticipated deal to sell Clough, which then appointed administrators from Deloitte (London, England) to find a buyer and limit any financial impact.
Industrial Info is tracking more than US$33 billion worth of projects involving Clough's services. Last month, Murray & Roberts attempted to unload its stake in Clough through a sale and purchase agreement with Webuild SpA (Milan, Italy), which has partnered with Clough on several major projects. But the deal collapsed. Clough and Webuild are collaborating on one of the largest and most widely anticipated energy projects in Australia: the Snowy 2.0 Pumped-Storage Hydro Plant in New South Wales.
Other companies featured: Mitsui & Company Limited, Beach Energy Limited, BP plc (NYSE:BP) and Rio Tinto plc (NYSE:RIO).
