Company News Summary | 12 Sep 2017
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CIMIC Group Announces UGL Awarded $1.9bn Melbourne Suburban Network O&M Contract
16:44:00 | Associate analysts
Original annuncemenet:UGL AWARDED $1.9BN MELBOURNE SUBURBAN NETWORK O&M CONTRACT
CIMIC Group advised that the Group's UGL, as part of the Metro Trains Melbourne JV, has been awarded a contract to continue the operations and maintenance of the Melbourne suburban train network for a further 7 years. The contract will generate revenue to UGL of $1.886bn over the initial seven-year term, with options of three further years in addition to this revenue figure. The contract, which will commence in November, follows an 8 year agreement for the operations and management of the trains which is due to conclude in November. Metro Trains Melbourne comprises MTR Corporation (60%), John Holland (20%) and UGL (20%).
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