NRW books $115m data centre deal

NRW Holdings’ decision to expand into the data centre industry continues to pay off, following the award of another significant contract.

Jules Pemberton-led NRW, a mining-focused services contractor, told the market on Thursday that its wholly owned subsidiary Fredon – which it acquired for $200 million in September last year – had secured a $115 million mechanical systems contract, relating to the Stack Data Centre campus in Melbourne.

The first stage of works, which relate to the off-site fabrication element of mechanical works at the facility, is within a wider $300 million contract package awarded to Fredon after it was selected as preferred contractor.

NRW told investors that work would get under way this month and was anticipated as September 2028 finish.

“I am pleased to share the award of another major data centre contract secured by Fredon,” Mr Pemberton said.

“Melbourne is fast becoming a major hub for hyperscale data centres within Australia, and this award reinforces Fredon’s exceptional ability to deliver these complex scopes of work to their clients.”

Upon acquiring the business last year, NRW said Fredon’s skillset – focused on data centres, health and defence – would add a valuable fourth pillar to its business.

During FY26, Fredon generated $684.3 million towards NRW’s overall revenue, which rose by 31 per cent to $4.3 billion.

Following the release of the company’s results, Mr Pemberton said Fredon’s impact had “exceeded our acquisition expectations” across its first nine months of being a part of NRW’s stable.

NRW last traded at $8.27, up 2 per cent, marking a new company trading high, as of 12.05pm AWST.