Trading halt at RCR Tomlinson Shadow on solar farms
FINANCIAL concerns are circulating around RCR Tomlinson, a contractor for a number of North Queensland solar projects including the Haughton Solar Farm, south of Townsville.
The company was placed in a trading halt on the Australian Stock Exchange on Monday.
It said in a statement it was expected to make an announcement regarding its earnings and “associated consequences for its funding”.
It is expected the company will recommence trading today.
In August it was revealed costs to build two solar farms at Hayman and Daydream is- lands blew out by $ 57 million, forcing RCR Tomlinson to try to raise $ 100 million from investors.
In a statement the Electrical Trades Union said the second trading halt was evidence the company was in danger of going into receivership.
ETU Queensland Northern Territory state secretary Peter Ong said union officials had been on some sites yesterday and would be back at RCR’s five Queensland sites, including Haughton, today to talk to workers who fear the worst.
“They have heard reports about what occurred in Victoria, where more than 100 workers were sacked with an hour’s notice on an RCR site near Mildura late last month, with many still awaiting outstand- ing payments,” he said. “The workers rightly want commitments from the developers that they won’t face the same fate.
“They demand that they continue being paid wages and entitlements while the viability of RCR is decided.”
Mr Ong said there were grave concerns for subcontractors at RCR- contracted sites.
He said the State Government had not adequately overseen the solar industry.
“ETU members call on the State Government to guarantee that no further work in the renewables sector will go to RCR. They clearly can’t be trusted to deliver,” Mr Ong said.
RCR Tomlinson declined to comment.