Grocon licence on hold

GROCON’S Queensland building licence will be suspended today, as investigations into the finances of the Melbourne-based company continue.

The Queensland Building and Construction Commission slapped conditions on the licence last month, forbidding them from taking on or seeking new work, after they booked losses on two projects that have a face value of more than $1 billion.

The regulator confirmed it would be suspended today, after the company failed to satisfy the QBCC’s inquiries about their finances.

“Grocon was issued a show cause on 11 August, 2017 and had a condition imposed on its licence on 12 September, 2017,” a statement from the commission said.

“The QBCC has afforded Grocon ample opportunity to show they meet the requirements to hold a building licence in Queensland.

“The company has not been able to demonstrate they satisfy these requirements.”

The suspension will remain in place until the company demonstrates that it satisfies licensing requirements.

When Grocon’s licence was restricted last month, head of construction Peter Ward said the company had booked “some big losses” on projects including the Commonwealth Games Athletes Village.

Yesterday Mr Ward said the company had not heard back from the regulator since they last wrote to them.

“They could have spoken to us first,” he said, but declined to comment further.

Grocon handed the athlete’s village to Games organisers at the end of September.