Cimic’s (ASX:CIM) CPB Contractors receives $245m contract

Construction company Cimic (ASX:CIM) announced that its subsidiary CPB Contractors was selected as part of a joint venture by the NSW government to deliver the western section of the M12 Motorway.

The contract is expected to generate revenue of around $245 million for CPB Contractors. The joint venture is made up of CPB Contractors and the Georgiou Group.

The M12 Motorway will provide direct access to the new Western Sydney International (NancyBird Walton) Airport and connect the airport to Sydney’s motorway network.

“CPB Contractors will ensure that this project creates opportunities for local suppliers and sub-contractors,” said CPB Contractors’ managing director Jason Spears.

“Our teams are experienced in safely delivering major road projects in Sydney and will deliver this road according to schedule, ensuring it is available before the Western Sydney International Airport opens.”

Cimic said work will commence this year, and is scheduled to be completed in late 2025.

Shares in Cimic (ASX:CIM) are trading flat at $22.00.