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CIMIC Group (ASX:CIM) - Executive Chairman, Marcelino Fernández Verdes
Executive Chairman, Marcelino Fernández Verdes
Source: Global Construction Review
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  • CIMIC Group’s (CIM) CPB Contractors have been selected by the Queensland Government to deliver the Bruce Highway Upgrade between Woondum and Curra
  • The construction contract will generate revenue of $289 million for CPB Contractors
  • The upgrade between Woondum and Curra is a priority road project and is being progressed as part of the national highway network
  • Work on the project will commence this year and is expected to be completed in mid-2024
  • On market close, CIMIC is down 1.17 per cent and is trading at $18.59 per share

CIMIC Group’s (CIM) CPB Contractors have been selected by the Queensland Government to deliver the Bruce Highway Upgrade between Woondum and Curra.

The construction contract will generate revenue of $289 million for CPB Contractors.

The upgrade between Woondum and Curra is a priority road project and is being progressed as part of the national highway network. It will provide a bypass east of Gympie and improve safety while reducing congestion.

Under the contract, CPB will deliver 18 kilometres of new highway, realignments to local roads, 19 bridges and a new interchange at Curra.

Work on the project will commence this year and is expected to be completed in mid-2024.

Notably, the Bruce Highway upgrade program is the largest road infrastructure program Queensland has ever seen. It is aimed at improving safety, flood resilience and capacity along the length and breadth of the highway between Brisbane and Cairns.

“CIMIC Group is pleased to be selected to deliver this important project through CPB Contractors,” CIMIC CEO Juan Santamaria said.

“We look forward to working with communities in the Sandy Creek Road to Curra area and supporting the achievement of greater safety outcomes for road users based on our experience in regional projects in Queensland,” he added.

CPB Contracts Managing Director Jason Spears has successfully completed section C of the Cooroy to Curra upgrade and will apply that knowledge to deliver this section safely and with the least disruption possible.

“We are also committed to engaging with local workers and businesses to facilitate skills development, work opportunities and other community benefits,” he said.

On market close, CIMIC is down 1.17 per cent and is trading at $18.59 per share.

CIM by the numbers
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