John Holland, the construction giant now owned by a major Chinese government-backed builder, has reported a $55.5 million annual loss after big cost blowouts on two Melbourne infrastructure projects.

Once part of Leighton Holdings, John Holland has been owned by China Communications Construction since 2014. It blamed the slide into loss, from a net profit of $94.8 million in 2023, on “project delivery issues” on Melbourne’s Metro Tunnel rail project and West Gate Tunnel motorway.