CIMIC’s UGL selected as contractor for Kidston project | Finance News Network

CIMIC’s UGL selected as contractor for Kidston project

Company News

by Kathy Skantzos

Engineering company UGL, a CIMIC Group (ASX:CIM) business, has been selected as the engineering procurement and construction contractor by Genex Power to deliver the 270MW solar farm project as part of the Kidston Stage Two works in North Queensland.

CIMIC Group Chief Executive Officer Michal Wright said securing the contract reflects UGL’s depth of experience and expertise in the renewable energy sector.

UGL Managing Director Jason Spears reiterated UGL’s proven track record in the design and delivery of solar farms.

UGL has delivered five solar projects and currently has five solar projects under construction across Australia.

Revenue to UGL will be finalised when the contract is executed in the coming months.

Shares in CIMIC (ASX:CIM) are trading 0.31 per cent lower to $50.75.
 

Kathy Skantzos

Finance News Network
Kathy presents the Market Outlook and ASX company news. She joined FNN in September 2017. She has been in print and online journalism for over 9 years. She also worked in corporate communications.