Cimic Group's Leighton unit wins $267M Auckland contract
Cimic Group's Leighton unit wins $267M contract to upgrade Auckland's Southern Corridor
Aug. 13 (BusinessDesk) - Cimic Group's Leighton Contractors unit has won the $267 million contract to upgrade Auckland's Southern Corridor to improve traffic flows on State Highway 1 between Manukau and Papakura.
The project involves building
about 11 kilometres of additional lanes, upgrading 16
bridges and constructing six new bridges, Sydney-based Cimic
said in a statement to the ASX. It also includes a new 4.5km
walking and cycleway. Work is to start in October and opened
in stages ahead of its 2018 completion target. Cimic, which
was previously known as Leighton Holdings, said the contract
will generate about $192 million for Leighton Contractors
over the next three years.
Leighton Contractors is
leading the consortium building the Transmission Gully road
north of Wellington, and has worked on previous NZ Transport
Agency projects, including the State Highway 16 upgrade, the
Northern Gateway Toll Road and the Newmarket Viaduct
Replacement.
Cimic shares last traded at A$23.11 on
the ASX and have gained 6.8 percent in the past 12
months.
(BusinessDesk)