Singapore-based Surbana Jurong Private Limited, one of Asia’s leading consultancies in urban developments, has announced the acquisition of an Australian company to establish a global consultancy group with combined expertise in urban and infrastructure sectors.

Surbana Jurong’s 100% acquisition of SMEC Holdings Limited, an award-winning consultancy firm specializing in major infrastructure projects, for approximately US$400 million will significantly transform both companies. With Surbana Jurong and SMEC bringing complementary strengths to the table, the combined entity will have a global workforce of 9,800 employees in over 95 offices across 40 countries in Asia, Australia, the Middle East, Africa and the Americas. The combined entity would be one of the largest urban and infrastructure consulting firms in Asia.

SMEC was formed in 1949 to undertake a major integrated water and hydroelectric power project in New South Wales, Australia, called Snowy Mountain Hydroelectric Scheme, one of the largest and most complex hydroelectric schemes in the world. It was considered an engineering feat and recognized by the American Society of Civil Engineers as one of the seven civil engineering wonders of the modern world. The national project took 25 years to complete and included 16 major dams, seven power stations and one pumping station, over 225 km of tunnels and aqueducts and 2,000 km of roads.

Today, SMEC has a talent pool of over 5,800 people working within a global network of over 75 offices across Asia, Africa, Australasia and North and South America. 

Surbana Jurong played a leading role in shaping Singapore’s renowned urban landscape over the last 50 years. As part of its urbanization model, Surbana Jurong provided the technical expertise to design over a million homes in Singapore and continues to be responsible for rejuvenating most of the public Housing & Development Board (HDB) townships, where over 80% of residents in Singapore dwell. It is the technical consultant behind most of Singapore’s industrial developments, including the region’s leading petrochemical hub, Jurong Island. Surbana Jurong has a distinguished international track record, having developed masterplans for more than 30 countries and developed more than 50 industrial parks worldwide. Its township and urban planning model is well regarded throughout the world.

Liew Mun Leong, Chairman of Surbana Jurong said:

 “A large part of Asia and other emerging countries have to catch up with their deficit in urbanisation and infrastructure development in order to grow and support their economies. According to a report by PwC, infrastructure spending is expected to grow from US$4 trillion per year in 2012 to more than US$9 trillion per year in 2025 of which 60% will be in the Asia-Pacific market. In addition to financing and funding, wide and deep technical expertise in urbanisation and infrastructure development will be needed. Surbana Jurong and SMEC have successfully completed many major showcase national development projects throughout Singapore and Australia. Besides their complementary strengths, both companies have very similar corporate cultures and core values. It will be timely and opportunistic for the synergetic merger of these two very competent organisations to share their expertise and capture the huge market opportunities.”

Wong Heang Fine, Group CEO of Surbana Jurong said:

“Surbana Jurong and SMEC share complementary strengths and competencies as well as a rich and proud heritage of major iconic projects recognised around the world. SMEC’s experience and strength in major infrastructure projects in the urban transport, energy and water sectors such as hydroelectric power plants, Mass Rapid Transit (MRT) & Light Rail Transit (LRT) systems, bridges and highways, coupled with Surbana Jurong's track record and expertise in urban planning, township and industrial development, will enable us to offer unique complete value chain services in urban and infrastructure solutions to our clients globally.”

“As a company with a worldwide presence, global experience and expertise with local knowledge, we will be able to assist our clients to solve complex challenges in different markets. We will also be able to use our wide network of clients to find synergistic development and business opportunities across various sectors and geographies. Together, the company will be in a unique position to capture opportunities in the global market, and I believe this will put us on a path to accelerated growth.”

Commenting on the partnership, Andy Goodwin, SMEC’s CEO and Managing Director, said:

“We are delighted about this partnership with Surbana Jurong, an Asian powerhouse, who will further accelerate and support SMEC’s growth ambitions. This partnership is a reflection of the strategic value of our business and its potential to further deliver solutions internationally. It also signifies recognition of the professional skills at SMEC. The combined entity will not only benefit our clients, but importantly deliver enhanced growth opportunities for our employees and our partners. We are confident that the synergies between SMEC’s progressive culture and Surbana Jurong’s established company values will result in a mutually beneficial partnership over the long term”.