CIMIC Group Limited (ASX: CIM) notified that the CPB Contractors of the company has got the contract to deliver an upgrade to a northern section of Melbourne’s M80 Ring Road.
- The company anticipates the contract to generate a revenue of about $331 million for CPB Contractors.
- The upgrade is funded by the Australian and Victorian government and would inch up the capacity along with reducing congestion.
- The construction is slated to commence in early 2020 and would mark the completion in 2023.
At 2:17 PM AEST on 30 October 2019, CIM was trading at $33.43, down by 1.48%.
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