The indicative purchase price of $49.8 million is still subject to adjustment as at 31 January 2003 for asset valuations.

The acquisition adds $600 million to John Holland's order book, bringing it to a total of about $1.5 billion.

"The former Transfield businesses are a very good fit in terms of skill and experience and will significantly consolidate John Holland's market presence and position for further growth," John Holland group managing director Bill Wild said.

"Our expanded customer base stands to benefit from our broadened capabilities, a strong financial position and our unrivalled expertise to deliver a range of services."

Projects transferring to John Holland include extensive fabrication and on-site construction works at the Comalco Alumina Refinery in Queensland, and a coal preparation plant at Mt Arthur North mine in New South Wales.