Artist impression of the new Eden Park
In a provisional decision, it has been announced today that Fletcher Building Ltd [FBU.NZ] has been picked as the preferred builder for the new Eden Park revamp, valued at anywhere between NZ$190 million and north of $300 million, depending on who you speak to.
The stadium is to be rebuilt for the 2011 Rugby World Cup and construction is expected to start in August 2008.
If Fletcher's can negotiate a good deal for them, it is going to be good for the company. I'm mindful though that many stadiums built around the world have caused construction companies much grief, as changes to design, construction problems, and political meddling has put profits at stake and even put company futures at risk.
The new Wembly Stadium almost sunk the Australian builder Multiplex last year and the company building the new Vector Arena in Downtown Auckland lost big dollars on that project.
It is more than likely that the big New Zealand construction company will win the bid as it has the size and experience to be able to complete the project
Grab your seat for the game, Fletchers could be in for a bumpy ride.
Fletcher Building @ Share Investor
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Related Reading
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Running a Successful Construction Company (For Pros by Pros) by David Gerstel
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