- CIMIC Group (CIM) company CPB Contractors has reached contractural close to deliver components for Perth’s METRONET
- Delivered in partnership with Downer Group, the contract will generate revenue of $423 million to CPB Contractors
- METRONET consists of the Yanchep Rail Extension and the Thornlie to Cockburn Link
- Full passenger services will begin on the Yanchep line in mid-2022 and the Mandurah and Armadale lines in mid-2023
- CIMIC Group has ended the day up a slight 0.63 per cent with shares trading for $34.95
CIMIC Group (CIM) company CPB Contractors has been awarded a contract to deliver components for Perth’s METRONET.
The alliance-style contract, delivered in partnership with Downer, will generate revenue of approximately $423 million to CPB Contractors.
Project funding will be through the Western Australian and Australian Governments.
“Our construction company CPB Contractors has a strong and experienced team in Western Australia, which will ensure the safe and efficient delivery of the METRONET program,” CIMIC Group CEO Michael Wright commented.
The METRONET program consists of the Yanchep Rail Extension and the Thornlie – Cockburn Link.
The Yanchep Rail Extension will see the Joondalup line be extended northwards from Butler to Yanchep.
It involves the construction of three new stations to support the rapidly growing population of the area.
The Thornlie to Cockburn Link will connect the Mandurah and Armadale lines and involves the construction of two new stations to provide Perth’s first cross line connection and improved public transport services to the southern suburbs.
Full passenger services will begin on the Yanchep Rail Extension in mid-2022 and the Thornlie to Cockburn Link in mid-2023.
“CPB Contractors looks forward to working closely with the West Australian Government to safely deliver this landmark public transport project for the people of Perth,” CPB Contractors Managing Director Juan Santamaria said.
CIMIC Group has ended the day up a slight 0.63 per cent with shares trading for $34.95 in a $11.24 billion market cap.