Join our daily newsletter At The Bell to receive exclusive market insights
- CPB Contractors, a subsidiary of CIMIC Group (CIM), has been awarded road projects in South Australia
- These projects will see CPB deliver duplication works on the Main South Road and Victor Harbor Road in the state
- The work is expected to reduce traffic congestion, support economic growth in the Southern Fleurieu region and improve road safety and connectivity
- Work is expected to begin early next year, be completed in 2024, and generate approximately $314 million in revenue for CPB
- CIMIC is up a marginal 0.44 per cent on the market with shares trading at $18.41
CPB Contractors, a subsidiary of CIMIC Group (CIM), has been awarded road projects in South Australia.
These projects will see CPB deliver duplication works on the Main South Road and Victor Harbor Road in the state.
This Main South Road duplication involves the doubling of roughly 10 kilometres of road from south of Griffiths Road, Seaford to Aldinga.
The Victor Harbor Road duplication involves duplicating roughly five kilometres of road between Main South Road, Old Noarlunga and Main Road, McLaren Vale.
CIMIC’s Executive Chairman and CEO Juan Santamaria commented on the projects.
“We are pleased to have the opportunity to deliver these important projects in South Australia aimed at reducing travel times and increasing safety for the local community and visitors to the Southern Fleurieu region,” Mr Santamaria said.
“CPB Contractors will deliver the works with a strong focus on safety, quality, the environment and on minimising impacts on the local community.”
The contracts have been awarded as part of the Fleurieu Connections Alliance with the Department of Infrastructure and Transport, Aurecon and GHD.
The work is expected to reduce traffic congestion, support economic growth in the Southern Fleurieu region and improve road safety and connectivity.
Work is expected to begin early next year, be completed in 2024, and generate approximately $314 million in revenue for CPB.
CPB’s Managing Director Jason Spears said the company will use its experience to deliver these projects.
“We are currently delivering the Port Wakefield to Port Augusta Alliance in collaboration with the Department for Infrastructure and Transport, including works on the Copper Coast, Augusta and Port Wakefield Highways and the Joy Baluch AM Bridge,” Mr Spear commented.
“We’ll apply this experience to efficiently deliver these duplication works and maximise economic opportunities for South Australian people and businesses.”
CIMIC was up a marginal 0.44 per cent on the market with shares trading at $18.41 at 11:49 am AEDT.
