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- CIMIC subsidiary CPB Contractors has added yet another hospital job to its portfolio, after announcing a deal worth $379 million from the NSW Government
- The contractor will be working on a new 14-storey clinical building at Sydney’s Nepean Hospital, making up for 520 new beds, 55,000 square metres of construction and 12 new operating theatres
- The revamped Nepean Hospital is expected for completion mid-2021, while the contractors also work on a $424 million contract for Campbelltown Hospital – due for completion in 2023
- The subsidiary is also currently working on Western Sydney’s Airport and Auckland’s International Airport
CIMIC subsidiary CPB Contractors has been selected by the NSW Government to have a working hand in revamping a hospital for $379 million in revenue.
CPB will play a part in constructing the new 14-storey clinical building for Nepean Hospital in Sydney’s Kingswood area. Nepean is said to treat over 54,000 patients annually.
Just four days ago, CPB announced a $424 million contract for the Campbelltown Hospital in NSW as well. Construction is underway at Campbelltown and is expected to finish in 2023 while Nepean is expected to finish in 2021.
“CIMIC Group continues to provide essential infrastructure for local communities, including health facilities, public transport infrastructure and new motorways,” CEO Michael Wright said.
“We’re committed to leveraging our strong experience and wide-ranging skills to meet these vital community needs now and for future generations.”
At Nepean, a new facility will cover over 55,000 square metres with a new emergency department, 12 new operating theatres and 200 overnight beds. Currently, the teaching hospital holds 520 beds.
“The Nepean Hospital Redevelopment Stage 1 builds on CPB Contractors’ growing portfolio of hospital projects and our strong commitment to Western Sydney,” CPB Contractors Managing Director Juan Santamaria said.
“CPB Contractors is proud to continue our close working relationships with the NSW Government and Western Sydney communities.”
CPB is also working on the Wagga Wagga Health Service stage three development, the Coffs Harbour Hospital Expansion, the Parramatta Light Rail, early work at Western Sydney’s Airport, and Auckland’s International Airport.
Shares in CIMIC are only experiencing a small uptake today of 0.29 per cent to trade for $31.50 each.
The company’s market cap on the ASX is currently valued at $10.18m billion.
