CIMIC awarded new deals in NSW, NZ and India

Company News

by David Chau

CIMIC Group (ASX:CIM) is having a busy day – with three new deals announced this morning.

Corrective Services NSW has selected CIMIC’s company, CPB Contractors, for infrastructure upgrades at the Junee Correctional Centre. This is a design and construct contract that's expected to generate revenue of $134 million.

Over in New Zealand, the Ministry of Education awarded CPB Contractors and Pacific Partnerships (which is another CIMIC company) a design and construct contract for four new primary schools. This NZ deal is expected to earn CIMIC NZ$113 million in revenue.

And over in India, another CIMIC company, Leighton Asia, will deliver phase one of the Vipul Aarohan Residences project in Gurgaon – and CIMIC expects to earn $108 million in revenue from this deal.

Despite these new deals, CIMIC shares are tracking 0.1% lower at $36.68 this morning.

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