Transactions - JULY 3, 2017

CIMIC’s CPB contractor wins $400m airport runway works in JV

by Released

CIMIC Group company, CPB Contractors, has been awarded the $400 million Airfield Works contract by Brisbane Airport Corp. to construct the New Parallel Runway in a 50-50 joint venture with BMD Constructions.

The contract will generate revenue to CPB Contractors of approximately $200 million.

The airfield works contract is the final contract for the construction of the New Parallel Runway project, and includes delivery of a 2.1 miles main runway and 7.5-mile taxiway system, and airfield infrastructure such as navigational aids, airfield lighting, multiple utilities, signage, operations roads, airfield drainage and landscaping, security fencing and control systems.

Construction is scheduled to start in the coming weeks, with the runway expected to be fully operational in 2020.

Brisbane Airport estimates that the new parallel runway will mean the number of landings and departures will increase from 227,000 flights each year to 360,000 by 2035, and up to half-million flights by 2045.

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