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- Two of CIMIC Group’s (CIM) minerals processing and construction companies have won further contracts totalling $100 million in revenue
- The ASX 200-lister’s Sedgeman arm secured a contract from QCoal to design and construct a tailings dewatering facility at the Byerwen Mine in Central Queensland
- Meanwhile, a CPB Contractors’ subsidiary won a contract from the Queensland Government to commence stage two of the Yarrabilba State Secondary College project
- On the market this afternoon, CIMIC is down 1.32 per cent to $18.35 per share
Two of CIMIC Group’s (CIM) minerals processing and construction companies have won further contracts in Queensland.
Notably, the new deals will bring in around $100 million in revenue.
Sedgeman
The ASX 200-lister’s Sedgeman arm was awarded a contract from QCoal to design and construct a tailings dewatering facility at the Byerwen Mine in Central Queensland. Construction on the mine will begin this month and is targeted for completion in mid-2022.
The project will result in a lower operational risk profile, less power usage, and improved water recovery and management of dewatering chemicals.
“We are pleased to continue working with QCoal with a key focus on reducing impacts and undertaking environmentally responsible practices,” Sedgeman Managing Director Grant Fraser said.
“The tailings dewatering contract at Byerwen is a great opportunity to achieve joint goals in ESG, an important focus for the industry,” he added.
CPB Contractors
Meanwhile, CPB Contractors’ subsidiary, Broad Construction, won a contract from the Queensland Government.
Under the agreement, Broad will deliver stage two of the Yarrabilba State Secondary College project. Work includes senior general learning spaces, a senior
applied technology centre, art and design centre and a performing arts centre.
CIMIC expects works at the college to be completed during 2022.
“Broad worked closely with the Department of Education to deliver stage one of the Yarrabilba State Secondary College,” CPB Managing Director Jason Spears said.
“The team will build on this outstanding result to safely deliver the additional school facilities for the local community,” he added.
CEO Juan Santamaria says CIMIC’s companies have had a strong history of delivering consistent outcomes in Queensland.
“We are pleased to continue our long-standing relationships with QCoal to deliver safe and efficient solutions for the industry; and with the Queensland Department of Education to deliver high-quality assets of lasting value that will benefit the local community,” he added.
On the market this afternoon, CIMIC is down 1.32 per cent and is trading at $18.35 per share at 12:56 pm AEDT.
