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