Downer EDI (ASX:DOW) is preferred contractor for Perth’s Metronet

Downer EDI (ASX:DOW), as a member of the NEWest Alliance, has been selected as preferred contractor to deliver the Yanchep Rail Extension and the Thornlie – Cockburn Link, part of Perth’s METRONET program.

The project will be delivered in a joint venture partnership with CPB Contractors, part of CIMIC Group and will be delivered under an alliance-style contract.

Project funding is through the Western Australian state and Australian federal governments.

The project is scheduled to be completed in 2023.

Downer is also currently delivering Stage 1 of the Parramatta Light Rail project in a 50:50 joint venture with CPB Contractors for the NSW Government.

Shares in Downer EDI (ASX:DOW) are trading 0.62 per cent higher at $8.15.
 
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Source: Finance News Network