Engineering and infrastructure firm RCR Tomlinson has announced that it has extended its bank guarantee from $195 million to $295 million and has received approval for insurance bonding facility increases of $50 million, a total of $150 million in increased funding.
RCR’s insurance bonding facility now stands at $250 million, up from an aggregate of $200 million. RCR, which employs over 3400 people across Australia, New Zealand and southeast Asia, is one of the country’s largest engineering intelligence providers.
Dr Paul Dalgleish, managing director of RCR, said that this increase would provide the company with a larger facility that would allow the company to grow and continue to diversify its output.
“We are experiencing considerable growth in our development pipeline, in particular rail and energy including solar, wind, storage and gas power opportunities,” he said.
“We are delighted to be working with a syndicate of financiers who understand the business and support the strategic and organic growth of our business.”