Downer EDI to build Parramatta Light Rail

Company News

by Rachael Jones

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.

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.