SMEC Holdings

SMEC Holdings Limited (formerly Snowy Mountains Engineering Corporation) is an Australian based-firm that provides consulting services on major infrastructure projects around the world. SMEC undertakes feasibility studies, design, tender and contract management, construction supervision and project management. The company provides engineering services for transport, hydropower and energy, water and environment and resources projects. Its head office is located in Melbourne, Victoria.[1]

SMEC Holdings Limited
TypeSubsidiary
FounderAustralian Government
Headquarters
Melbourne
,
Australia
Area served
Global
Key people
Hari Poologasundram (CEO)
ServicesConsulting
OwnerSurbana Jurong
Websitewww.smec.com

On 1 August 2016, the Singapore-based Surbana Jurong announced it had acquired SMEC for US$298 million (S$400 million).[2]

Background

Between 1949 and 1974 the Snowy Mountains Authority (SMA) undertook a massive hydro-electric and irrigation project, the Snowy Mountains Scheme, in the Snowy Mountains of New South Wales. The work included sixteen dams, seven power stations, 150 kilometres (93 mi) of tunnels, 80 kilometres (50 mi) of aqueducts, 2,000 kilometres (1,200 mi) and much other construction. It was completed on time and within budget. The work showcased Australian engineering, and in the 1960s the SMA was given projects in Thailand, Sabah, Papua New Guinea and Cambodia.[3]

History

In 1970 the Snowy Mountains Engineering Corporation (SMEC) was established to preserve and market the expertise that SMA had acquired. Many of the early projects were funded by the Australian International Development Assistance Bureau (AIDAB).[3] By 1991, the Snowy Mountains Engineering Corporation (SMEC) was a public company with 220 staff. The company was wholly owned by the Australian Government, and provided engineering consulting and project management services around the world.[4] SMEC became a Commonwealth Government owned public company in 1989, and in 1993 SMEC was sold to staff by the government.[5] SMEC's total revenue in the 2012 financial year was $420 million.[6] SMEC's total revenue in the 2015 financial year was A$537 million. As of 2015 SMEC had over 5,400 employees around the world.[1]

In August 2016 SMEC was implicated in alleged corporate bribery incidents in both Sri Lanka and the Congo, after the firm sought to secure multi-million dollar contracts in those countries.[7][8]

In 2016 SMEC was bought by Singapore-based Surbana Jurong for around $400 million.[9]

References
  1. "Company Overview". SMEC. Retrieved 20 September 2012.
  2. "Surbana Jurong acquires SMEC". DVV Media (UK). Retrieved 4 August 2016.
  3. Porter, Doug; Allen, Bryant James; Thompson, Gaye (1991). Development in Practice: Paved With Good Intentions. Routledge. p. 36. ISBN 978-0-415-06626-6. Retrieved 20 September 2012.
  4. Australian Bureau of Statistics (1991). Year Book Australia, 1991 No. 74. Australian Bureau of Statistics. p. 621. GGKEY:Q27G1441W40. Retrieved 20 September 2012.
  5. "Company History". SMEC. Retrieved 20 September 2012.
  6. Ibis World (30 June 2012). "SMEC Holdings Limited - Premium Company Report Australia". Retrieved 20 September 2012.
  7. McKenzie, Nick; Freudenthal, Emmanuel (24 August 2016). "Australian companies embroiled in bribery scandals in Sri Lanka and Congo" (transcript). 7.30. Australia: ABC TV. Retrieved 8 October 2016.
  8. McKenzie, Nick; Freudenthal, Emmanuel; Bachelard, Michael; Baker, Richard (24 August 2016). "Australian companies linked to bribe scandals in Sri Lanka and Congo". The Sydney Morning Herald. Retrieved 8 October 2016.
  9. "SMEC hit with World Bank sanctions over allegations of misconduct". www.abc.net.au. 2017-09-29. Retrieved 2020-07-27.
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