CIMIC’s CPB Contractors awarded $1b

Company News

by Rachael Jones

CIMIC Group company, (ASX:CIM) CPB Contractors, as part of the Rail Infrastructure Alliance, has been awarded a $1 billion package of works by the Victorian Government in support of the $11 billion Metro Tunnel Project.

The Alliance consists of CPB Contractors and John Holland, with AECOM as the design partner, as well as project owner Rail Projects Victoria and rail franchisee Metro Trains Melbourne, of which CIMIC Group company UGL represents 20 per cent.

Revenue to CPB Contractors for the design and construct contract is approximately $400 million.

This is the second package of Metro Tunnel works to be delivered by CPB Contractors, following the award of a $1 billion design and construct contract as part of the Rail Systems Alliance (RSA) in December 2017.

Shares in CIMIC Group company (ASX:CIM) are trading 0.96 per cent higher to $51.44.
 

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.