CIMIC Group’s CPB contractors wins $463m Sydney Metro Station project Title

CIMIC Group (ASX:CIM) company CPB Contractors has been selected to build the new Sydney Metro City & Southwest Pitt Street Station.

The NSW Government has awarded the contract, part of Sydney Metro, Australia’s biggest public transport project, which will generate revenue of approximately $463 million to CPB Contractors for design and construction of the station.

The Integrated Station Development will provide a 250-metre-long underground Pitt Street Station running from Park Street to Bathurst St, between Pitt and Castlereagh Streets, connecting the two station entries with retail and other commercial facilities.

CIMIC says this project continues CIMIC Group’s strong track record of providing important infrastructure to benefit communities and help to drive continued economic growth.

Shares in CIMIC Group (ASX:CIM) closed 1.2 per cent higher at $32.09 yesterday.

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Source: Finance News Network