AsiaNet 73692

SYDNEY, Australia May 24, 2018/Medianet International-AsiaNet/-
 

CIMIC Group company, Leighton Asia, as lead partner in a joint venture, has been selected by Singapore's Land Transport Authority to deliver a A$540 million tunnel and infrastructure contract (N103 contract works), as part of the North-South Transportation Corridor project. Revenue to Leighton Asia, which is part of CIMIC Group construction company CPB Contractors, will be approximately A$380 million, with the project being delivered in joint venture with local Singapore contractor Yongnam Engineering & Construction. Construction is scheduled to commence in the second quarter of 2018 and be completed by 2026. CIMIC Group Chief Executive Officer Michael Wright said: “The award of these major infrastructure works to support the North-South Corridor project demonstrates the positive and enduring relationship that CIMIC and Leighton Asia have built with the Land Transport Authority in Singapore. "We are pleased to continue to contribute our innovative and cost-effective design and construction methodologies to enhance Singapore’s world-class transportation networks." CPB Contractors and Leighton Asia Managing Director Juan Santamaria said: "Leighton Asia’s major project experience and diverse construction capabilities have positioned us well to capture this contract and further key infrastructure projects in Singapore’s growing market. "We have a strong and growing presence in Singapore, with a team committed to leveraging our local experience and international expertise to ensure the project meets the social, sustainability and economic outcomes expected by the client and local communities." The N103 design and construction contract works include 640m of twin, three-lane vehicular tunnels; the underpinning of an existing expressway flyover; a new facility building; and an entrance ramp and exit ramp. On completion, the North-South Corridor project will be Singapore’s first integrated transport corridor, relieving major traffic network congestion and better connecting the northern sectors of Singapore with the central city area. In addition to this recent award, Leighton Asia’s Singapore business is working with the Land Transport Authority to build Springleaf Station and associated rail tunnel on the Thomson-East Coast Line. This follows the team’s successful completion of the Downtown Line 3 Jalan Besar Station and tunnels. CIMIC Group Limited (ASX: CIM) is a world-leading infrastructure, mining, services and public private partnerships group. We have businesses in construction (CPB Contractors and Leighton Asia), mining and mineral processing (Thiess and Sedgman), operation and maintenance services (UGL), public private partnerships (Pacific Partnerships) and engineering (EIC Activities). Our mission is to generate sustainable shareholder returns by delivering innovative and competitive solutions for clients and safe, fulfilling careers for our people. With a history since 1899, and more than 50,000 people in 20 countries, we strive to be known for our principles of Integrity, Accountability, Innovation and Delivery, underpinned by Safety. CIMIC is a member of the S&P/ASX 100 index, the Dow Jones Sustainability Australia Index and FTSE4Good. SOURCE: CIMIC Group Limited ABN 57 004 482 982 www.cimic.com.au

--BERNAMA