CIMIC’S (ASX:CIM) CPB Contractors win $150m contracts

Company News

by Katrina Bullock

CPB Contractors, a subsidiary of CIMIC Group (ASX:CIM), has won 3 contracts worth $150 million from Rio Tinto (ASX:RIO).

The job entails developing three separate infrastructural projects at Robe Valley, in the Pilbara region of Western Australia.

CIMIC Group CEO Michael Wright has attributed the win to the company’s experience with construction, mining and industrial services for the iron ore industry. 

Under the contracts, CPB Contractors has been assigned the tasks of: earthworks, construction of roads, bridges and pits; water supply infrastructure and drainage; fencing; and site establishment and demobilisation.

The deadline for the projects is set to be the end of 2021.

Shares in CIMIC Group are trading 1.13 per cent higher at $33.92. 

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.