Downer EDI (ASX:DOW) is preferred contractor for Perth’s Metronet

Company News

by Rachael Jones

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$8.240 $0.166 2.06%
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Last Updated: 6/12/2019 3:59 PM

Downer EDI (ASX:DOW), as a member of the NEWest Alliance, has been selected as preferred contractor to deliver the Yanchep Rail Extension and the Thornlie – Cockburn Link, part of Perth’s METRONET program.

The project will be delivered in a joint venture partnership with CPB Contractors, part of CIMIC Group and will be delivered under an alliance-style contract.

Project funding is through the Western Australian state and Australian federal governments.

The project is scheduled to be completed in 2023.

Downer is also currently delivering Stage 1 of the Parramatta Light Rail project in a 50:50 joint venture with CPB Contractors for the NSW Government.

Shares in Downer EDI (ASX:DOW) are trading 0.62 per cent higher at $8.15.
 

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.