CIMIC’s (ASX:CIM) Leighton Asia, UGL and Broad secure A$145 million in wins

Highlights

  • Companies under CIMIC Group have acquired contracts with a total revenue of AU$145 million.
  • Via these contract wins, CIMIC has expanded its presence in Hong Kong, besides Australia.
  • The wins also signify CIMIC Group’s diversified portfolio providing essential infrastructure across a range of sectors.

CIMIC Group Limited (ASX:CIM) declared on 8 September 2021 that its companies Leighton Asia, UGL and Broad Construction, have further extended their presence in Hong Kong and Australia respectively with the award of contracts totalling approximately AU$145 million in revenue.

The projects feature:

  • A contract is awarded to Leighton Asia to deliver building work, architectural finishes, fitout and building services work for a data centre in Hong Kong;
  • A contract is awarded to UGL to manufacture a locomotives in New South Wales for a client;
  • A contract is awarded to UGL to complete wireless communications modifications for an existing transport client; and
  • A design and construct contract awarded to Broad to construct Bethesda Clinic at Cockburn Central, Western Australia, with 75 overnight beds, a wellness and recovery centre, a neurostimulation unit and specialist consulting suites.

The release stated that the works in Hong Kong will start this month and the other works have all started.

The projects are expected to get completed in 2022.

About CIMIC:

CIMIC Group is an engineering-led construction, mining, services and public private partnerships leader working across the lifecycle of assets, infrastructure and resources projects. The Group features construction businesses - CPB Contractors, Leighton Asia and Broad; mining and mineral processing companies - Thiess (joint control) and Sedgman; services specialist UGL and public private partnerships -  arm Pacific Partnerships. All of these are aided by CIMIC’s in-house engineering consultancy EIC Activities.

Meanwhile, on the ASX, the stock CIM traded last at AU$21.560 per share, with a market capitalisation of AU$6.71 billion.

Bottomline:

CIMIC has been operating strongly across Australia and other global markets, and with these current contract wins, it can be stated that the Company is at a good position when it comes to globally recognised firms.

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