CIMIC Group company, Leighton Asia, has been selected by MPCALA Holdings Inc. to construct the Cavite Laguna Expressway project (Cavite section) in the Philippines.
Revenue to Leighton Asia, which is part of CIMIC Group construction company CPB Contractors, is approximately A$182 million1.
Construction is scheduled to commence in the second quarter of 2018 and be completed by 2020.
CIMIC Group Chief Executive Officer Michael Wright said: "CIMIC Group and Leighton Asia are committed to delivering high quality transport infrastructure solutions, and safer and more efficient traffic networks that support regional economies and better connect communities.
"We are pleased to contribute our major project experience and civil engineering capability to sustainably accommodate the future growth of the Cavite and Laguna regions."
CPB Contractors and Leighton Asia Managing Director Juan Santamaria said: "Our team’s international expertise and local experience are delivering next-generation infrastructure and enhanced transport networks across the Philippines.
"We will continue to work with the client to achieve innovative and cost-effective solutions for this project."
Works consist of the construction of a 28km, four-lane expressway, including bridges, interchanges, toll plazas and ancillary facilities.
The Cavite and Laguna regions are the most industrialised and urbanised areas in the Philippines, housing diverse international and multi-national electronic, automotive and manufacturing companies.
On completion, the expressway will reduce travel times from Cavite to Laguna by approximately 45 minutes.
Mr Justin Grogan, Investor Relations T+61 2 9925 6628
Ms Fiona Tyndall, General Manager Communications T+61 2 9925 6188
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.
1 Using the exchange rate of A$1=PHP38.54 ---
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