$260m contract win for CIMIC’S CPB Contractors | Finance News Network

$260m contract win for CIMIC’S CPB Contractors

Company News

by Rachael Jones

CIMIC’S (ASX:CIM) CPB Contractors has been selected by BHP (ASX:BHP) Iron Ore to deliver the construction for the South Flank project in Western Australia’s Pilbara region.

Revenue to CPB Contractors for this construct-only contract is approximately $260 million.

Construction is scheduled to commence in July and conclude in September 2020.

The South Flank development is one component of BHP’s strategy to increase the mining, processing and out-loading capacity of the Mining Area C hub.

As part of the South Flank Project, CPB Contractors will undertake earthworks and concrete works for the development of a new ore processing plant and train load-out facilities underground services, including electrical and water services.

Shares in CIMIC (ASX:CIM) closed down 0.1 per cent to $40.46 yesterday
 

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.