Downer EDI (ASX:DOW) has been selected by the New South Wales Government to build Stage 1 of the Parramatta Light Rail project in a 50:50 joint venture with CPB Contractors.
The design and construct Infrastructure Works contract will generate revenue to Downer of $420 million.
Stage 1 of the Parramatta Light Rail will start construction in 2019.
Parramatta Light Rail is expected to begin passenger services in 2023.
Shares in Downer EDI (ASX:DOW) are trading 1.23 per cent lower at $6.45.