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    APA   AU000000APA1

APA GROUP

(APA)
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End-of-day quote. End-of-day quote Australian Stock Exchange - 09/22
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APA : First pipes arrive for APA's Northern Goldfields Interconnect Pipeline

06/02/2021 | 11:41pm EDT

The first of four shipments of steel pipes has arrived in Geraldton for APA Group's Northern Goldfields Interconnect pipeline, which will see up to $460 million invested in the Goldfields region to form an interconnected WA gas grid.

Construction for the new 580 kilometre pipeline, which will connect the emerging gas fields in the Perth Basin to the resource rich Goldfields region, is expected to commence in Q3 this year.

Group Executive Infrastructure Development Kevin Lester said APA was thrilled to be delivering another project for the Goldfields region.

'As a leading Australian energy infrastructure business, we are pleased to be playing a vital role in addressing our nation's energy needs and challenges, while generating jobs and vital economic activity for Western Australia,' Mr Lester said.

'The Northern Goldfields Interconnect project will support hundreds of workers during the pipeline construction, while the investment will further stimulate economic development in the eastern Goldfields region, supporting new projects that have the potential to employ more workers.

'We are grateful for the continued support of the Western Australian Government.'

APA is currently engaging with all its stakeholders about the project, including Aboriginal communities where the pipeline will pass through.

'It is vitally important for APA to have positive, respectful and constructive relationships with all its stakeholders,' Mr Lester said.

'We are discussing the protection of Aboriginal Cultural Heritage with communities as well as opportunities for employment pathways in Aboriginal communities.'

Construction is expected to start where the Northern Goldfields Interconnect Pipeline will intersect with Goldfields Gas Pipeline in the east and continue construction towards Geraldton to the west.

The pipeline is targeted to be operational around mid CY2022.

The first of four shipments of steel pipes has arrived in Geraldton for APA Group's Northern Goldfields Interconnect pipeline.

Photo credit: Baosteel.

Disclaimer

APA Group published this content on 03 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 June 2021 03:40:02 UTC.


ę Publicnow 2021
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Financials
Sales 2022 2 654 M 1 926 M 1 926 M
Net income 2022 310 M 225 M 225 M
Net Debt 2022 9 477 M 6 879 M 6 879 M
P/E ratio 2022 32,3x
Yield 2022 6,20%
Capitalization 10 088 M 7 326 M 7 323 M
EV / Sales 2022 7,37x
EV / Sales 2023 7,15x
Nbr of Employees 2 000
Free-Float 100,0%
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Technical analysis trends APA GROUP
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Mean consensus OUTPERFORM
Number of Analysts 7
Last Close Price 8,55 AUD
Average target price 9,70 AUD
Spread / Average Target 13,5%
EPS Revisions
Managers and Directors
Robert Anthony Wheals Chief Executive Officer, Director & MD
Adam Watson Chief Financial Officer
Michael Anthony Fraser Chairman
Hannah McCaughey Group Executive-Transformation & Technology
Darren Rogers Group Executive Operations
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