“The NSW Government has awarded a contract providing revenue of $1.376 billion to the joint venture between CPB Contractors and UGL....
...
“Sydney Metro showcases the capabilities and strength of the CIMIC Group, with member companies CPB Contractors, UGL, EIC Activities and Pacific Partnerships all playing key roles in its development, delivery and operations.
CPB Contractors is currently delivering contracts on Sydney Metro City & Southwest and Sydney Metro Northwest, WestConnex M4E and New M5, and UGL’s work includes tunnel fit-outs for the Sydney Metro Northwest and Epping to Chatswood projects...”
On September 18 it collected $400m worth of Victorian work here : https://www.cimic.com.au/__data/ass...s-revenue-to-CIMICs-CPB-Contractors-$400m.pdf
“CIMIC’S CPB CONTRACTORS AWARDED $1B METRO TUNNEL WORKS
CIMIC Group company, CPB Contractors, as part of the Rail Infrastructure Alliance (RIA), has been awarded a $1 billion package of works by the Victorian Government in support of the $11 billion Metro Tunnel Project.
The Alliance consists of CPB Contractors and John Holland, with AECOM as the design partner, as well as project owner Rail Projects Victoria and rail franchisee Metro Trains Melbourne, of which CIMIC Group company UGL represents 20%.
More recent skullduggery and international drama over in Hong Kong ... https://www.scmp.com/news/hong-kong...rs-ties-contractor-sha-tin-central-link-under MTR’s ties with contractor on Sha Tin-Central link under scrutiny amid corner-cutting scandal
PUBLISHED : Thursday, 14 June, 2018, 1:11pm
UPDATED : Thursday, 14 June, 2018, 10:44pm
“Close relationship could have caused city’s railway operator to be lax in enforcing standards for construction work and reporting errors, critics say..”
“Hong Kong’s railway operator and the main contractor in a corner-cutting scandal that has rocked the city’s HK$97.1 billion (US$12.37 billion) Sha Tin-Central link have a close relationship that is coming under scrutiny as the saga deepens”.....
“The MTR Corp is partnered with Leighton Contractors (Asia) and its sister company on two major Australian rail projects in Melbourne and Sydney, but the operator has dismissed suggestions the overseas venture affected how it handled the problems on Hong Kong’s most expensive railway, saying “there is absolutely no truth to it”......
I have genuine concerns about what is going on in the sector at the moment .
Some are thriving and some are diving.
I asked after the meeting why it should be that governments seem to be trying to make it easier for big international consortiums to tender for the civil infrastructure jobs around Australia... despite all sorts of issues..like criminal records and Australian sub contractors subsequently going bankrupt ( an d Spanish giant ACCIONA suing NSW gov for $1,1 billion on one project yet still being asked to tender on another )
Jules said something simple along the lines of “because there is no one else big enough to do it”
I could not be more impressed with the position he and his team have steered us into.
NWH Price at posting:
$1.91 Sentiment: Buy Disclosure: Held
(20min delay)
