Surbana Jurong acquires SMEC for S$400m (US$300m) to become one of Asia’s largest consultancy powerhouses in urban & infrastructure developments
Singapore-based Surbana Jurong Private Limited (Surbana Jurong), one of Asia’s leading consultancies in urban developments, and Australian-based SMEC Holdings Limited (SMEC), an award-winning consultancy firm specialising in major infrastructure projects, today announced that they will be joining forces to establish a formidable global consultancy group with deep combined expertise in urban and infrastructure sectors.
Surbana Jurong’s 100% acquisition of SMEC for approximately S$400 million will significantly transform both companies. With Surbana Jurong and SMEC bringing complementary strengths to the table, the combined entity will have a global workforce of almost 10,000 employees in over 95 offices across 40 countries in Asia, Australia, the Middle East, Africa and the Americas. The combined entity would be one of the largest urban and infrastructure consulting firms in Asia.
Wong Heang Fine, Group CEO of Surbana Jurong said: “According to a report by PriceWaterhouseCoopers, infrastructure spending is expected to grow from US$4 trillion per year in 2012 to more than US$9 trillion in 2025 of which 60% will be in the Asia-Pacific market. In addition to financing, wide and deep technical expertise in urbanisation and infrastructure development will be needed.”
SMEC was formed in 1949 to undertake the Snowy Mountain Hydroelectric Scheme in New South Wales, at the time one of the largest and most complex such schemes in the world. The project took 25 years to complete and included 16 major dams, seven power stations and one pumping station, more than 225km of tunnels and aqueducts and 2,000km of roads.
Today, SMEC employs almost 6,000 people working within a global network of 75 offices across Asia, Africa, Australasia and the Americas.
Photo Caption: Wong Heang Fine, Group CEO of Surbana Jurong.