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.
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 clients.
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 clients 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 Efic’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.