Cimic's (ASX:CIM) Leighton Asia wins $140 mil project

Company News

by Lauren Evans

Cimic (ASX:CIM) company Leighton Asia has been selected by Phoenix IT City Private to construct Equinox, an Indian green building council platinum rated commercial complex in Hyderabad, India.

The contract will generate revenue of approximately $140 million for Leighton Asia, one of Cimic's construction engineering companies.This marks the second building project awarded to Leighton Asia by the Phoenix group.

Cimic chief executive officer Juan Santamaria said, “Leighton Asia has a strong track record of delivering building projects in India, including large-scale retail and commercial developments, also in Hyderabad... Leighton Asia will bring its clear commitment to safety and quality, to deliver on our client’s vision for this landmark project.”

Leighton Asia Managing Director Pedro Vicente said, "Our international expertise and local experience means we are able to deliver premium commercial and residential projects across India and support the growth of the Hyderabad region.”

Construction works comprise the delivery of four commercial office towers, including two 20-story and two 11-story buildings, all with three common basements.

The construct-only contract includes the delivery of civil and structural works, mechanical, electrical and plumbing services, façade and external works, expected to commence in Oct this year and complete in Q2 2023.

Shares in Cimic Group (ASX:CIM) are trading 2.6 per cent lower at $21.30 

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