CIMIC Group (ASX:CIM) - Executive Chair & CEO, Juan Santamaria
Executive Chair & CEO, Juan Santamaria
Source: Juan Santamaria/LinkedIn
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  • CIMIC Group’s (CIM) CPB Contractors has been awarded two contracts, each worth over $100 million
  • The company has been selected by the Australian and South Australian governments to deliver the next stage of the Augusta Highway Duplication – Port Wakefield to Lochiel
  • This project will be funded by the government and will generate revenue of approximately $132 million to CPB Contractors.
  • The company has also been selected by BHP for a $100 million contract, to assist with the port debottlenecking project at Nelson Point, Port Hedland
  • Shares were trading flat at $17.37 at 3:24 pm AEDT

CIMIC Group’s (CIM) CPB Contractors has been awarded two contracts worth over $100 million each.

The company has been selected by the Australian and South Australian governments to deliver the next stage of the Augusta Highway Duplication – Port Wakefield to Lochiel.

The project will be funded by the state and federal governments and will generate revenue of approximately $132 million to CPB Contractors.

The project duplicates the existing Augusta Highway with a new two-lane carriageway, and intersection/junction treatments, between the intersection of the Port Wakefield Highway, Copper Coast Highway and Augusta Highway, and the township of Lochiel.

The company said it will improve road safety, route reliability and network resilience of the Augusta Highway while reducing travel times and improving access for trucks.

Work will begin this year and is expected to be completed by next year.

CPB Contractors Managing Director Jason Spears said the company will ensure the upgrade meets high safety standards.

“We will work closely with the South Australian Department for Infrastructure and Transport to safely deliver this important upgrade,” he said.

“Drawing on the local knowledge acquired in delivering the Port Wakefield Overpass and Highway Duplication Project, we will ensure that economic, employment and training opportunities for the local regional communities are maximised.”

The company has also been selected by BHP for a $100 million contract, to assist with the port debottlenecking project at Nelson Point, Port Hedland, Western Australia.

CIMIC will help deliver the structural, mechanical, piping, electrical and instrumentation package for the project.

It will involve delivering both greenfield and brownfield works.

Work will start this year and is expected to be completed next year.

CIMIC Group Chief Executive Officer Juan Santamaria said he believes the company is a great choice to assist BHP.

“We’re pleased to be supporting BHP with this project. Our mining and resources experience and history in the Pilbara means we can collaborate on the project’s high standards of safety and quality.”

Shares were trading flat at $17.37 at 3:24 pm AEDT.

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