CIMIC Group (ASX:CIM) secures contract extension

Company News

by Katrina Bullock

The Northwest Rapid Transit Consortium which includes CIMIC Group (ASX:CIM) companies UGL and Pacific Partnership, has secured an extension to the existing NRT Public Private Partnership contract on Sydney Metro.

The contract was originally awarded in 2014.

The contract includes UGL delivering the radio system and extending its existing services on Metro North West Line to include the Sydney Metro City and Southwest line for a period of 10 years commencing from 2024.

CIMIC Group estimates that revenue from these contracts will total approximately $366 million.

Shares in CIMIC Group (ASX:CIM) are trading 0.9 per cent higher $34.07.

 

Katrina Bullock

Finance News Network
Katrina is a respected TV journalist, as well as a renowned presenter and award winning lawyer. She holds a Bachelor of Laws (Honours 1st class, division 1), a Bachelor of Business (with Distinction) and is currently undertaking a PhD in Law focused on stock exchange disclosures and corporate governance. She began her career as a corporate lawyer in an Australian top tier commercial law firm and is currently the General Counsel of Greenpeace Australia Pacific. In 2020 Katrina was named one of the 30 best lawyers in Australia under 30 by Lawyer's Weekly.