CIMIC Group (ASX:CIM) secure Queensland ECI contract

Company News

by Rachael Jones

CIMIC Group (ASX:CIM) companies UGL and CPB Contractors have entered an early contractor involvement (ECI) contract with energy infrastructure company CuString Pty Ltd related to the delivery of CopperString 2.0, a high-voltage transmission network in Queensland.

It extends from Townsville in the east to Mount Isa in the west.

UGL and CPB Contractors are also preferred contractors for the delivery phase of the project, which is expected to have revenue for the companies of approximately $1.7 billion over the three-year construction period.

The $7 million ECI contract will connect Mount Isa’s isolated electricity supply network into the National Electricity Market (NEM) at Woodstock, just south of Townsville.

CIMIC Group (ASX:CIM) are trading 0.61 per cent higher at $21.42