Rhodes Project Services
Rhodes Project Services provides pre-fabricated and conventional construction solutions for the mining, construction, aid/government and accommodation industries across Australia, South East Asia and the Pacific.
Need
Rhodes Project Services secured a number of construction contracts in the Pacific and they needed to provide a series of advance payment, performance and warranty bonds as security.
Solution
We provided a bonding facility that allowed Rhodes’ bank to issue the required bonds to Rhodes so it could fulfil its security obligations under each of the contracts.
Rhodes specialises in technical and challenging offshore projects, with experience in turnkey remote area housing, buildings, mining construction and accommodation, infrastructure projects, aid projects, and local development.
Rhodes also acts as a project intermediary between manufacturing partners, contractors and local stakeholders to meet the pre-fabricated building and remote construction requirements of its customers.
Export Finance Australia’s confidence in our abilities allowed us to secure a number of high-profile contracts in the Pacific – a great result for our export operations
Emanuel Papas
Founder and Managing Director, Rhodes Project Services
A new opportunity
Given Rhodes’ experience in undertaking diverse construction projects in the Pacific, it secured a number of construction contracts in the region.
Before its customers confirmed these projects, they asked that Rhodes provide a series of advance payment, performance and warranty bonds as security.
While Rhodes’ banking partners continue to be supportive of its overseas operations, they were unable to provide Rhodes with these bonds, due to a limited risk appetite in the Pacific and a lack of tangible security.
Rhodes were aware of Export Finance Australia’s role in helping small to medium business exporters access finance and so contacted us to see if we had a solution.
How we helped
Given Rhodes’ experience in undertaking overseas projects, we provided a bonding facility that allowed Rhodes’ bank to issue the required bonds to Rhodes so it could fulfil its security obligations under each of the contracts.
Rhodes’ future looks bright, as it continues to expand overseas through tendering for government-backed projects in Papua New Guinea and other developing countries within the region.