The Cimic (ASX:CIM) share price is dipping today despite contract win

The Cimic Group Ltd (ASX: CIM) share price has lost ground after positive morning trading, dipping 0.96% at the time of writing. This comes after the company announced that its subsidiary, UGL, has won a country regional network contract.

The Cimic share price is currently trading lower at $20.65.

Major contract award

In today’s release, Cimic advised that the Transport for New South Wales (TfNSW) selected UGL for its Country Regional Network contract.

UGL will provide an array of operation and maintenance works to tfNSW’s rail infrastructure under the agreement.

This includes building network operations such as establishing a new network control centre in regional NSW. In addition, UGL will deliver rail maintenance services,…