Cimic’s (ASX:CIM) UGL secures $150mil contract extension

Cimic’s (ASX:CIM) subsidiary UGL has been awarded a contract extension to provide asset management and project-related services at BP fuel terminals across Australia.

The building company noted that the extension will generate revenue to UGL of approximately $150 million. The multi-year contract, which includes engineering and maintenance services, was awarded by Australian Terminal Operations Management, a joint venture between UGL and BP.

“UGL and CIMIC have a longstanding relationship with BP, and we’re pleased to continue that with the delivery of safe, reliable and effective terminal operations, maintenance and engineering services,” said Cimic CEO Juan Santamaria.

UGL was also awarded a contract extension by Transport for NSW last week, to increase the size of the Mariyung Fleet, and install an additional transformer at the maintenance facility at Kangy Angy, Central Coast. 

“UGL is proud of its reputation for providing safe and innovative project and maintenance services across Australia and we look forward to continuing that to enhance our client’s capabilities through this contract,” said UGL managing director Doug Moss. 

Shares in Cimic (ASX:CIM) are trading 0.9 per cent higher at $19.97.