Cimic (ASX:CIM) secures $100mil contract extension

Company News

by Lauren Evans

Cimic’s (ASX:CIM) subsidiary UGL has won a government contract extension worth more than $100 million, in order to expand its transport project. 

Transport for NSW will allow the engineering firm more time to build an extra 56 passenger rail cars in NSW and install a transformer on the Central Coast.

UGL continues to work towards an improved transport system with, “advanced technology, comfort, convenience and reliability to ensure high quality transport for commuters," says CEO Juan Santamaria.

The project delivered its first train in December last year, while UGL has secured a number of other contracts in the last year.

Shares in Cimic (ASX:CIM) are trading 0.3 per cent lower at $21.18. 

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