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The NSW Government has awarded the contract, part of Sydney Metro, Australia’s biggest public transport project, which will generate revenue of approximately $463 million to CPB Contractors for design and construction of the station.
The Integrated Station Development will provide a 250-metre-long underground Pitt Street Station running from Park Street to Bathurst St, between Pitt and Castlereagh Streets, connecting the two station entries with retail and other commercial facilities.
In addition, CPB Contractors will work with Oxford Properties Group for the design and construction of the two high-rise buildings above the station. The buildings will be 39-storeys each and comprise one commercial office building and one build to rent residential building. Revenue for this component of the project will be confirmed at contract execution.
CIMIC Group Chief Executive Officer Michael Wright said: “This project continues CIMIC Group’s strong track record of providing important infrastructure to benefit communities and help to drive continued economic growth.
“Our multi-disciplinary skills will be central to delivering this vibrant and important new public transport and commercial hub in the heart of Sydney’s central business district.”
CPB Contractors Managing Director Juan Santamaria said: “Award of this project consolidates CPB Contractors’ position as a leading contractor delivering Sydney Metro, building on our work on Sydney Metro Northwest and Sydney Metro City & Southwest.
“Importantly, this is also a major step in the expansion and success of CPB Contractors’ building sector, working across key commercial, health and community facilities.
“CPB Contractors is proud to be working closely with Sydney Metro, Oxford Properties and the local business community to deliver this important new station and two landmark high-rise towers.”
Work on the station will begin in 2020 and is expected to be concluded in 2023.
By 2024, Sydney Metro (sydneymetro.info) will deliver 31 metro stations and more than 66 kilometres of new metro rail. CPB Contractors (cpbcon.com.au), together with its joint venture partners, delivered the tunnelling and civil works for the recently-opened Sydney Metro Northwest and is currently constructing the 15.5km twin tunnels and associated fit-out works for Sydney Metro City & Southwest.
About CIMIC Group Limited
CIMIC Group Limited (cimic.com.au) 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.
Contact: Mr Justin Grogan, Investor Relations; T+61(2) 9925 6628.
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