CIMIC Group wins $470M Singapore sewer project

Company News

by Jessica Ellerm


CIMIC Group (ASX:CIM) has announced Leighton Asia has been awarded a Deep Tunnel Sewerage contract by PUB, Singapore’s national water agency.

Leighton Asia will design and construct around 7.9km of sewer tunnels, allowing used water to be sent to centralized water reclamation plants for further treatment.

This is the second PUB contract awarded to CIMIC Group this year, with UGL securing a contract in March for process upgrades at a plant in central Singapore.

As a result of the project, CIMIC is anticipating revenues of approximately $470M will flow to Leighton Asia.

Construction is scheduled to kick off in October 2017, with project completion slated for 2023.

Shares in CIMIC Group (ASX:CIM) last traded 0.9% lower at $42.96.
 

Jessica Ellerm

Finance News Network
Jessica joined FNN in April 2016 and presents the Australian Share Market Outlook, and reports on the morning's leading business stories. Alongside FNN Jessica is a fintech industry commentator, writing for her own blog and a number of international online publications.