CIMIC Groups (ASX:CIM) UGL wins Gippsland line upgrade
CIMIC Group’s (ASX:CIM) UGL, as part of an alliance, has been appointed as preferred tenderer by Rail Projects Victoria to improve rail services for Victoria’s Gippsland Line.
The scope of works for the Gippsland Line Upgrade includes second platforms and station amenity works at three stations along the line and reactivating the second platform at Traralgon.
The works will also include track duplication, level crossing upgrades for safety and reliability, improvements to signalling, train control systems and freight passing loops.
The project is expected to finish in late 2022.
Shares in CIMIC Group’s (ASX:CIM) are trading 0.8 per cent lower at $26.34.
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Source: Finance News Network
