Mitsui E&P Australia and Beach Energy Ltd., joint venture partners of the Waitsia Stage 2 gas plant development program in Western Australia, will work with Deloitte to ensure the project progresses following placement of Clough, the projects engineering, procurement, and construction contractor, into voluntary administration.
The move follows a decision by Cloughs owners, Murray & Roberts of South Africa and Webuild of Italy, to terminate the sale of Clough to Webuild for $350 million (Aus.).
The companies agreed there was no reasonable prospect of the acquisition proceeding through to a successful completion.
Cloughs board has subsequently decided to place Clough and its Australian subsidiaries into voluntary administration with Deloi…
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