NewswireToday - /newswire/ -
Sydney, Australia, 2017/09/12 - CIMIC Group company, UGL, as part of the Metro Trains Melbourne joint venture, has been awarded a contract to continue the operations and maintenance of the Melbourne suburban train network for a further seven years - MetroTrain.com.au / UGLLimited.com. ASX: CIM
The contract will generate revenue to UGL of approximately $1.886 billion over the initial seven-year term, with options of three further years in addition to this revenue figure.
The contract, which will commence in November, follows an eight-year agreement for the operations and management of the trains which is due to conclude in November. Metro Trains Melbourne comprises MTR Corporation (60%), John Holland (20%) and UGL (20%).
CIMIC Group Chief Executive Officer Adolfo Valderas said: “CIMIC and UGL are pleased to be delivering the next step change in public transport in Victoria through the delivery of a high-performing railway for Melbourne.”
UGL Managing Director Jason Spears said: “During the past eight years UGL and its partners have delivered significant improvements for users of Melbourne public transport. Now, with unprecedented levels of investment in rail projects, we are ready to further increase performance and support an extensive program of Government investment.”
About CIMIC Group Limited
CIMIC Group Limited (cimic.com.au) is one of the world’s leading international contractors and the world’s largest contract miner. CIMIC Group has operations that have been in existence since 1934, was listed on the Australian Securities Exchange in 1962 and has its head office in Sydney, Australia. CIMIC provides construction, mining, mineral processing, engineering, concessions, and operation and maintenance services to the infrastructure, resources and property markets. It operates in more than 20 countries throughout the Asia Pacific, the Middle East, North and South America and Sub-Saharan Africa and, as at 31 December 2016, employed approximately 50,500 people directly and through its investments.
Contact: Ms Marta Olba, Group Manager Investor Relations; T: +61(2) 9925 6134