SMEC_Holdings

SMEC Holdings

SMEC Holdings

Add article description

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. Founded by the Government of Australia, since 2016 it has been a subsidiary of Surbana Jurong.

Quick Facts Formerly, Company type ...

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.[1]

History

In 1970 the Snowy Mountains Engineering Corporation (SMEC) was established to preserve and market the expertise that SMA had acquired.[2] Many of the early projects were funded by the Australian International Development Assistance Bureau (AIDAB).[1] By 1991, the Snowy Mountains Engineering Corporation (SMEC) was a public company with 220 staff. The company was wholly owned by the Government of Australia]], and provided engineering consulting and project management services around the world.[3] SMEC became a Commonwealth Government owned public company in 1989, and in 1993 SMEC was sold by the government in a management buyout.[4][5]

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.[6][7]

In August 2016, SMEC was bought by Singapore-based Surbana Jurong for around $400 million.[8][9][10]

References

  1. [1]
    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.
  2. [2]
    Authority bill passes all stages Canberra Times 11 June 1970 page 13
  3. [3]
    Australian Bureau of Statistics (1991). Year Book Australia, 1991 No. 74. Australian Bureau of Statistics. p. 621. GGKEY:Q27G1441W40. Retrieved 20 September 2012.
  4. [4]
    Our Story SMEC
  5. [5]
    Snowy a model for privatisation Canberra Times 31 January 1994 page 10
  6. [6]
    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.
  7. [7]
    McKenzie, Nick; Freudenthal, Emmanuel; Bachelard, Michael; Baker, Richard (24 August 2016). "Australian companies linked to bribe scandals in Sri Lanka and Congo". Sydney Morning Herald. Retrieved 8 October 2016.
  8. [8]
    Multi-million payday for SMEC investors after Surbana sale Australian Financial Review 3 August 2016
  9. [9]
    "SMEC hit with World Bank sanctions over allegations of misconduct". ABC News. 2017-09-29. Retrieved 2020-07-27.
  10. [10]
    Surbana Jurong acquires SMEC Railway Gazette International
Share this article:

This article uses material from the Wikipedia article SMEC_Holdings, and is written by contributors. Text is available under a CC BY-SA 4.0 International License; additional terms may apply. Images, videos and audio are available under their respective licenses.