CIMIC Group (ASX:CIM) secures contract extension

29Nov

CIMIC Group (ASX:CIM) secures contract extension

 

The Northwest Rapid Transit Consortium which includes CIMIC Group (ASX:CIM) companies UGL and Pacific Partnership, has secured an extension to the existing NRT Public Private Partnership contract on Sydney Metro.

The contract was originally awarded in 2014.

The contract includes UGL delivering the radio system and extending its existing services on Metro North West Line to include the Sydney Metro City and Southwest line for a period of 10 years commencing from 2024.

CIMIC Group estimates that revenue from these contracts will total approximately $366 million.

Shares in CIMIC Group (ASX:CIM) are trading 0.9 per cent higher $34.07.

 
Copyright 2019 – Finance News Network


Source: Finance News Network

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