CIMIC Group Robust project pipeline to supporting future growth
Robust project pipeline to supporting future growth: CIMIC Group recently reported that its CPB contractors have won NZ$82m Baypark to Bayfair upgrade (i.e., second and final phase of NZ transport Agency project), and the design and construct contract is expected to generate revenue to CPB contractors of approximately NZ$82 million. CIM was also lately awarded with three new projects for Main Roads Western Australia following a renegotiation of the Roe 8 contract, and the Western Australian State Government expects the total combined cost of three projects to be ~$276 million. Importantly, the new projects are significant as they will enhance Perth’s road network operations in the northern, eastern and southern suburbs of Perth. CIMIC Group company UGL has been awarded engineering, procurement and construction (EPC) contracts to design and build two new solar farms. The two EPC contracts for the Collinsville Solar Farm in Queensland and the White Rock Solar Farm in New South Wales will generate combined revenue for UGL of $117 million. Moreover, with these contracts, UGL has been awarded a total of nine solar farm projects, making it one of the most awarded contractors for utility-scale solar projects in Australia. CIMIC Group’s mineral processing company, Sedgman, has also been awarded a contract by Heron Resources Limited to deliver the Woodlawn zinc-copper processing facility and associated infrastructure. In addition, Leighton Asia (CIMIC Group company) has been selected by the Government of the Hong Kong Special Administrative Region to construct the East Kowloon Cultural Centre with revenues of $436 million.
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