CIMIC Group Limited (ASX: CIM)- CIMIC bags $140M Philippines tollway project

  • Aug 28, 2018 AEST
  • Team Kalkine
CIMIC Group Limited (ASX: CIM)- CIMIC bags $140M Philippines tollway project

CIMIC Group’s construction company Leighton Asia has been selected by NLEX Corporation to construct tollway project in the Philippines for $140 million. This project includes the construction of 2.6Km dual elevated tollway to connect North Luzon Expressway Segment 10 Road to the R10 Road along with providing a continuation of Harbour Link.

Leighton Asia has been engaged in under way development of the NLEX infrastructure project since 1998, stated CIMIC Group CEO Michael Wright.

NLEX Corporation adds seal to their relationship with CPB Contractors and Leighton Asia by awarding them with further construction works. The contractor has already given a headway to the project work which is expected to be completed by late 2019.

On the good news of further construction work received from NLEX Corporation, CIMIC group’s share price arrowed up 0.899% to $49.4 on 28 August 2018 (6:39 PM AEST).

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