CIMIC Group Announced two Significant Contracts for its Construction Business- CPB Contractors

  • Apr 01, 2019 AEDT
  • Team Kalkine
CIMIC Group Announced two Significant Contracts for its Construction Business- CPB Contractors

On 1 April 2019, CIMIC Group Limited (ASX: CIM) announced two significant contracts for its Construction Business, CPB Contractors.

CPB Contractors has been selected by Otakaro Ltd to deliver the Christchurch Metro Sports Facility which is a three-building facility with a seating capacity for 1,000 spectators, swim leisure area, 9 indoor netball and basketball courts. This facility is largest aquatic and indoor recreation and community venue in New Zealand.

It is expected that the contract for Christchurch Metro Sports Facility will help CPB Contractors to generate around NZ$221million in revenues. Further, the construction of the facility is expected to start in May 2019, and it will be finished in late 2021.

In past, CPB Contractors has provided important infrastructure in New Zealand and it has delivered critical infrastructure for the Christchurch community, maintaining its leading position in New Zealand.

Besides the contract for Christchurch Metro Sports Facility, CPB Contractors has been awarded a contract for the Northern Road upgrade between Eaton Road and Littlefields Road by the New South Wales (NSW) Government. From this, CPB Contractors will generate around $119 million in revenues.

Under the contract for the Northern Road upgrade, CPB Contractors will upgrade 3.6 km of existing two-lane road and upgrade 2.5 km of local arterial roads. Currently, CPB Contractors is working on Stage 5 of the Northern Road upgrade and it is expected that this work will facilitate the smooth and safe provision for the recently awarded Northern Road upgrade. It is expected that the construction for the Northern Road upgrade will commence on in Mid-2019 and conclude in 2021.

In the recent past, CIMIC’s other businesses have also secured significant contracts which includes CIMIC’s global mining services provider, Thiess securing a A$1.7 billion contract in Botswana and CIMIC’s services specialist UGL securing a contract for services on the Woodside Energy Limited operated Karratha Gas Plant (KGP). In March 2019, Thiess also secured a A$172 million contract extension from Bayan Resources, demonstrating Thiess’s ability to drive operational solutions and value for its clients to meet their production and expansion needs.

Now, let’s have a glance at the company’s stock performance and the return it has posted over the past few months. The stock is trading at a price of $48.990, up by 1.513% during the day’s trade with a market capitalisation of ~$15.65 billion as on 1 April 2019. The counter opened the day at $49.960 and reached the day’s high of $50.00 and touched a day’s low of $48.840 with a daily volume of ~ 357,264. The stock has provided a year till date return of 12.84% & also posted returns of -4.19%, 11.17% & -3.65% over the past six months, three & one-month period respectively. It had a 52-week high price of $51.670 and touched 52 weeks low of $39.575, with an average volume of ~283,953.


This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.


All pictures are copyright to their respective owner(s) does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.


There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK