By Pierre Bertrand
Hochtief said its subsidiary Cimic will work on a high-voltage electricity transmission project in Australia expected to generate close to $1 billion in revenue.
Cimic was chosen by grid operator Transgrid to build the western section of the HumeLink project which, based on a target cost contract, will generate more than 1.4 billion Australian dollars ($934.5 million) in revenue for Cimic subsidiaries UGL and CPB Contractors, Hochtief said Monday.
Early works, including detailed design and procurement, are set to finish in mid 2024. Construction will start once all approvals have been granted and a final investment decision has been made, which are both expected in mid-2024, Transgrid said.
The HumeLink project involves the construction of 385 kilometers, or 239 miles, of new transmission lines, including new and upgraded infrastructure, Transgrid said.
The project will connect two regions in New South Wales and increase the electricity network capacity of Australia’s eastern states, Hochtief said.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
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