Cimic's (ASX:CIM) CPB wins work at Aus Rail Track Corporation

Company News

by Lauren Evans

Cimic’s (ASX:CIM) subsidiary CPB Contractors have been selected to work with the Australian Rail Track Corporation for the delivery of Inland Rail’s southern civil works program.

The Australian government's Australian Rail Track Corporation selected the ACACPB joint venture, 50-50 joint venture formed by CPB Contractors and Acciona Construction Australia, for the planning and development of civil works between Narrabri and Narromine in northern NSW.

The building company noted that revenue to CPB Contractors will be confirmed upon execution of the design and construct works contracts.

“Inland Rail is crucial for Australia’s growing population, providing a fast freight link between regional businesses and markets. We’re proud to contribute to this significant project – creating an asset for generations to come, cost-effectively, safely and collaboratively,” said Cimic CEO Juan Santamaria.

“CPB Contractors will use its extensive regional experience to ensure that opportunities for local suppliers are maximised and that jobs for local workers are created," said CPB managing director Jason Spears.

The work involves approximately 306 kilometres of new track formation comprising bulk earthworks, drainage, bridge and viaduct structures, materials and logistics management. The news come after CPB Contractors and Acciona also won construction work at the new Western Sydney International Airport last week.

Shares in Cimic Group (ASX:CIM) are trading 1.9 per cent lower at $19.03. 

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