Veris Boosts Workload to $65M with Major Melbourne Tunnel Survey Deal
Veris Limited has secured a major contract worth up to $20 million to provide engineering survey services for Melbourne’s Suburban Rail Loop East tunnels, boosting its secured workload to over $65 million.
- Contract valued between $16 million and $20 million
- Scope covers 10km of twin tunnels in Melbourne’s Suburban Rail Loop East
- Contract duration of approximately 3.5 years
- Veris’ secured workload rises to over $65 million
- Strengthens Veris’ position in complex infrastructure survey services
A Significant Win for Veris
Veris Limited (ASX – VRS) has announced the award of a substantial contract to deliver engineering survey services for the Suburban Rail Loop East tunnels package in Melbourne. Valued between $16 million and $20 million, this contract represents a major milestone for the company, underpinning its growth trajectory in the infrastructure sector.
The project involves surveying approximately 10 kilometres of twin tunnels between Waverley and Box Hill, a critical segment of the Victorian Government’s flagship Suburban Rail Loop initiative. The contract is expected to generate revenue for Veris over the next 3.5 years, commencing later this month.
Strategic Importance and Industry Positioning
This award not only adds significant revenue but also boosts Veris’ secured workload to over $65 million, providing strong medium to long-term visibility. The contract was awarded by the Verde Consortium, which includes major construction players such as GS S.p.A, WeBuild Terra Australia, and Bouygues Construction Australia.
Michael Shirley, Managing Director and CEO of Veris, highlighted that this contract reinforces the company’s reputation as a trusted provider of integrated, data-led engineering survey solutions for complex infrastructure projects. Veris’ expertise in digital spatial technologies and precision surveying is a key differentiator in supporting large-scale tunnelling and transport infrastructure.
Broader Impact of the Suburban Rail Loop
The Suburban Rail Loop is a transformative, multi-generational project set to reshape public transport across Victoria. The East section, where Veris will contribute, connects six new underground stations and is designed to unlock urban development, with plans for approximately 70,000 new homes by the 2050s. This infrastructure will not only improve connectivity but also stimulate economic and social benefits for Melbourne’s growing population.
Veris’ involvement in this high-profile project aligns with its strategic vision to expand its footprint across key infrastructure sectors, leveraging its integrated digital and spatial advisory capabilities. The company’s recent acquisition of Vision Spatial has further enhanced its capacity to deliver complex, data-driven solutions.
Looking Ahead
With the Suburban Rail Loop contract secured, Veris is well-positioned to capitalize on ongoing infrastructure investment in Australia. The company’s growing order book and technological expertise suggest a promising outlook, though execution risks and project timelines will be closely watched by investors.
Bottom Line?
Veris’ latest contract win cements its role in Australia’s infrastructure boom, setting the stage for sustained growth.
Questions in the middle?
- How will Veris manage operational challenges over the 3.5-year contract period?
- What additional opportunities might arise from other stages of the Suburban Rail Loop project?
- How will integration of recent acquisitions impact Veris’ delivery capabilities?
