CIMIC Group’s UGL extends contract with Sydney trains

Company News

by Rachael Jones

CIMIC Group (ASX:CIM) company UGL has secured a five-year extension to its contract with Sydney Trains for the delivery of maintenance and logistics services for a portion of Sydney’s metropolitan passenger rail fleet.

They will provide heavy maintenance, component overhaul and supply chain capabilities, coupled with engineering and depot-related support.

The extension will generate revenue of approximately $630 million to UGL, replacing the $277 million of revenue announced in January.

The services will be delivered through UGL Unipart, a 70:30 joint venture between UGL and Unipart Rail UK.

Shares in the CIMIC Group (ASX:CIM)are trading 2.1 per cent higher at $46.84 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.