Brisbane company worth just $8 when awarded $385m Nauru offshore processing contract

Since 2017 the contract – now worth $1.6bn – has been amended seven times without competitive tender

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A Brisbane construction company had $8 in assets and had not commenced trading, when it was awarded a government contract – ultimately worth $1.6bn – to run Australia’s offshore processing on Nauru.

The contract was awarded after the government ordered a “financial strength assessment” that was actually done on a different company.