CIMIC’S (ASX:CIM) CPB Contractors win $150m contracts - Sequoia Direct Pty Ltd

20DecDecember 20, 2019

CIMIC’S (ASX:CIM) CPB Contractors win $150m contracts

CPB Contractors, a subsidiary of CIMIC Group (ASX:CIM), has won 3 contracts worth $150 million from Rio Tinto (ASX:RIO).

The job entails developing three separate infrastructural projects at Robe Valley, in the Pilbara region of Western Australia.

CIMIC Group CEO Michael Wright has attributed the win to the company’s experience with construction, mining and industrial services for the iron ore industry.

Under the contracts, CPB Contractors has been assigned the tasks of: earthworks, construction of roads, bridges and pits; water supply infrastructure and drainage; fencing; and site establishment and demobilisation.

The deadline for the projects is set to be the end of 2021.

Shares in CIMIC Group are trading 1.13 per cent higher at $33.92.
Copyright 2019 – Finance News Network

Source: Finance News Network

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