CIMIC’s (ASX:CIM) UGL finalises A$124 million Gippsland Rail Upgrade Contract

ASX 200-listed CIMIC Group Limited’s (ASX:CIM) UGL, as part of an alliance, has reached contract award with Rail Projects Victoria for the Gippsland Line Upgrade. This is likely to enhance rail services for Victoria’s Gippsland line.

The project is likely to start in near future and will be garnering A$124 million revenue to UGL.

UGL has a huge history of providing rail services in Victoria. the Gippsland Line Upgrade includes second platforms, station improvement, tracks, signalling and level crossing upgrades.

The project is expected to compete by the ends of 2022.

Meanwhile, the stock ended the Wednesday’s session at A$18.795, down 1.391%, with market cap of A$5.93 billion.




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