Duratec Limited (Duratec or the Company) announced it has executed a letter of intent (LOI) (valid up to and including 30 April 2021, unless extended) to commence Preliminary Works on the specialist façade enhancement and re-cladding of a significant Perth CBD high-rise building. Duratec will commence initial works under the LOI immediately with the entire works construction period expected to be up to 165 weeks, subject to final contract documentation. The value of the final contract is expected to be approximately $63 million (exclusive of GST). Duratec is in final contract negotiations with Perron Investments Pty Ltd. and APF Management Pty Ltd. c/-Frasers Logistics & Commercial Asset Management Pte Ltd, (the building owners), and expects final documentation to be executed before 30 April 2021. Duratec will be responsible for providing the project management team, including design, fabrication and installation of the façade works using its own skilled work force.