CIMIC has signed a contract with the Queensland state government to help build the $5.4 billion Cross River Rail project in Brisbane.
CIMIC has signed a contract with the Queensland state government to help build and maintain the $5.4 billion Cross River Rail project in Brisbane.
The ASX-listed engineering giant is part of a consortium that will deliver tunnelling works, new underground stations, and ongoing maintenance services for South East Queensland's largest infrastructure project.
CIMIC has a 49 per cent stake in the consortium and will receive about $2.73 billion in revenue from the Palaszczuk government's signature infrastructure project.
"As Australia's premier rail infrastructure and services provider, we will finance, design, construct and maintain the new tunnels and rail stations, in partnership with the State Government, to deliver world class rail assets and services for South East Queensland," CIMIC chief executive Michael Wright said.
European fund manager DIF, a Dutch joint-venture between a construction firm and a pension group, and Italian tunnel builders Ghella are the consortium members.
CIMIC shares were worth $44.77 before the start of trade on Monday, up 3.1 per cent this calendar year.