Roads and Maritime Services has awarded a contract to CIMIC Group’s
(ASX:CIM) company, CPB Contractors, for the widening of the M1 Pacific Motorway between Tuggerah and Doyalson in NSW.
CIMIC announced this morning that the deal closed this morning, and is expected to generate $145 million in revenue for CPB.
The company also says preparation for construction works will begin in the coming weeks, with project completion expected in 2019.
Upgrade works include widening the 12km section between Wyong Road, Tuggerah, and the Doyalson Link Road to three lanes in each direction.
Yesterday, CIMIC shares closed 0.27% lower at $36.55, which is a one-month low.
