Total
0
Shares
Decmil Group (ASX:DCG) - Managing Director and CEO, Dickie Dique
Managing Director and CEO, Dickie Dique
Source: Business News
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Decmil Group (DCG) has been awarded a portion of an approximate $300 million contract by Rail Projects Victoria to upgrade the Gippsland railway line
  • The line upgrade is being delivered as part of the $4 billion Regional Rail Revival program
  • Decmile will join an alliance, working with CIMIC Group (CIM) company UGL and Arup as part of the VicConnect consortium to deliver the upgrade
  • The works include duplicating tracks, extending the Morwell crossing loop, upgrading level crossings and signalling, and adding second platforms to three stations
  • The company will take a roughly $140 million share of the contract, with a target completion date of late 2022
  • Decmil Group is up 2.63 per cent, trading at 58.5 cents

Decmil Group (DCG) has been awarded a portion of an approximate $300 million contract by Rail Projects Victoria to upgrade the Gippsland railway line

The Gippsland line upgrade is being delivered as part of the $4 billion Regional Rail Revival program, which is upgrading every regional passenger rail line in Victoria and creating 3,000 jobs.

The project will deliver major benefits to passengers, including more reliable services along the Gippsland line, with a 40-minute off-peak frequency for trains between Traralgon and Melbourne.

Decmile will join an alliance, working with CIMIC Group (CIM) company UGL and Arup as part of the VicConnect consortium to deliver the upgrade.

The company will take a roughly $140 million share of the contract, taking its contracted and preferred order book to $570 million.

VicConnect’s works will include duplicating track, extending the Morwell crossing loop, upgrading level crossings and signalling, and adding second platforms at Bunyip, Longwarry and Morwell.

The VicConnect group’s win was assisted by Infrastructure Nation, which has worked closely with the partners to develop and deliver a winning proposal.

The VicConnect Alliance has a project completion target slated for late 2022.

Decmil Group is up 2.63 per cent, trading at 58.5 cents at 12:20 pm AEDT.

DCG by the numbers
More From The Market Herald

" Oldfields (ASX:OLH) sees revenue growth from key division

Oldfields’ (OLH) has announced revenue growth of 20 per cent in September and October of this year.
Veris (ASX:VRS) - CEO, Michael Shirley

" Veris Australia (ASX:VRS) wins $1m contract for Sydney Metro West

Veris Limited (VRS) announces its subsidiary, Veris Australia, has secured a contract of around $1 million for the Sydney Metro West project.
SSH Group, SSH - Managing Director, Daniel Cowley Cooper

" SSH Group (ASX:SSH) contract extension for Forrestfield Airport Link

SSH Group (SSH) has announced a contract extension of four months for Webuild Group’s $1.86 billion Forrestfield Airport Link.

" Clean TeQ Water (ASX:CNQ) pens deal with MCC Environment

Clean TeQ Water (CNQ) has signed an exclusive distribution agreement with MCC Energy Conservation and Environmental Protection to promote its technology in China.