CIMIC Group (ASX:CIM)
company, CPB Contractors has been selected by the Queensland Government to deliver the Bruce Highway upgrade.
The construct-only contract will generate revenue of $289 million for CPB. The project is funded by the Australian and Queensland governments.
The upgrade of the Bruce Highway between Woondum and Curra is a priority road project and is being progressed as part of the national highway network.
It will provide a bypass east of Gympie and improve safety while reducing congestion and is scheduled to be completed in mid-2024.
Shares in CIMIC Group (ASX:CIM)
are trading 0.37 per cent lower at $18.74.