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- CIMIC Group’s (CIM) engineering and construction companies, UGL and CPB, have signed a $7 million three-year contract with CuString
- The early contractor involvement contract is for the delivery of CopperString 2.0, a high-voltage transmission network in Queensland that will extend from Townsville to Mount Isa
- UGL and CPB are the preferred contractors for the delivery phase of the project, which is expected to generated revenue for the companies of around $1.7 billion
- The delivery phase of the project includes the design, construction and commissioning of four new substations, two substation extensions and approximately 1,100 kilometres of high voltage transmission line
- On the market this afternoon, CIMIC is in the grey and trading at $21.29 per share
CIMIC Group’s (CIM) engineering and construction companies, UGL and CPB, have entered an early contractor involvement contract with energy infrastructure company CuString.
The $7 million contract is related to the delivery of CopperString 2.0, a high-voltage transmission network in Queensland extending from Townsville
to Mount Isa.
The high-voltage transmission line will connect Mount Isa’s isolated electricity supply network into the National Electricity Market at Woodstock, just south of Townsville.
UGL and CPB are the preferred contractors for the delivery phase of the project, which is expected to generate revenue for the companies of around $1.7 billion over the three-year construction period.
The delivery phase of the project includes the design, construction and commissioning of four new substations, two substation extensions and approximately 1,100 kilometres of high voltage transmission line for the project.
“UGL and CPB Contractors have proven experience in the delivery of critical infrastructure,” CIMIC CEO Juan Santamaria said.
“We are pleased to support the delivery of this vital transmission line and will look to maximise the economic benefits and employment opportunities that this project can bring to regional communities in North and North West Queensland,” he added.
On the market this afternoon, CIMIC is in the grey and trading at $21.29 per share at 2:51 pm AEDT.
