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CIMIC (ASX:CIM) share price on watch after $800m Australian Defence contract win // Motley Fool Australia
The CIMIC Group Ltd (ASX: CIM) share price will be on watch on Wednesday following an after-market announcement.
What did CIMIC announce?
On Tuesday afternoon CIMIC revealed that its CPB Contractors business has been selected by the Australian Government’s Department of Defence to deliver the development phase of the Australia-Singapore Military Training Initiative (ASMTI) facilities project in North Queensland.
In addition to this, CPB Contractors has been named as the preferred contractor to manage the second phase of the project. This is currently scheduled to commence mid-2022.
The ASMTI facilities are being developed in order to support Australian Defence Force training and increased access by personnel of the Singapore…
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