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Veris (ASX:VRS) - CEO, Michael Shirley
CEO, Michael Shirley
Source: Business News
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  • Veris’ (VRS) subsidiary, Veris Australia, receives a contract to provide surveying services to Sydney Metro’s Southwest metro upgrade
  • Sydney Metro is Australia’s biggest public transport project and the upgrade will deliver improvements to a line that is more than 125 years old
  • Work includes upgrading 15 bridges and underpasses, and civil construction on walls, track drainage and culverts
  • The contract is expected to generate $2.5 million in revenue for Veris Australia over a two-year period
  • Shares in Veris are up 2.82 per cent on the market and are trading at 7.3 cents at 12:27 pm AEST

Veris’ (VRS) subsidiary, Veris Australia, has been awarded a contract to provide surveying services to Sydney Metro’s Southwest metro upgrade.

Sydney Metro is Australia’s biggest public transport project and the Southwest metro upgrade will deliver important improvements to a line that is more than 125 years old.

Work includes upgrading 15 bridges and underpasses, civil construction on walls, track drainage and culverts, fencing, track crossovers and upgrading overhead wiring.

Upon completion, there will be new CBD metro railway stations at Martin Place, Pitt Street and Barangaroo as well as new metro platforms at Central.

The contract is expected to generate $2.5 million in revenue for Veris Australia over a two-year period.

By 2024, Sydney is expected to have 31 metro railway stations and a 66-kilometre standalone railway system — the biggest in all of Australia.

“It’s pleasing to see the continuation of the strong relationship developed with the John Holland Laing O’Rourke Joint Venture as part of our successful involvement in the Sydenham Station and Junction upgrade continue with the Southwest metro upgrade program,” CEO Michael Shirley said.

“Providing the surveying services for the Southwest metro upgrade demonstrates our continued capacity to support the delivery of the Sydney Metro project.”

Shares in Veris were up 2.82 per cent on the market and trading at 7.3 cents at 12:27 pm AEST.

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