Ten­der leads to share price spike

The Coffs Coast Advocate - - NEWS -

IN­VESTORS have shrewdly backed the com­pany that has been awarded the $116 mil­lion Coffs Har­bour hos­pi­tal ex­pan­sion works by the State Gov­ern­ment.

CIMIC Group com­pany CPB Con­trac­tors has been se­lected by the Bere­jik­lian Gov­ern­ment to com­plete the new five-storey clin­i­cal ser­vices build­ing with con­struc­tion works to start in April.

Com­ple­tion of the project, which also in­cludes a rooftop heli-pad, an in­ten­sive care unit and new sur­gi­cal, ma­ter­nity and pe­di­atric wards is ear­marked for com­ple­tion by the end of 2021.

As a re­sult of the re­cent an­nounce­ment, shares in Cimic rose 3.2 per cent higher to sit at $44.13 be­fore a slight mar­ket cor­rec­tion.

CIMIC Group CEO and manag­ing di­rec­tor Michael Wright said the project fur­ther builds on the CIMIC Group’s strong track record in de­liv­er­ing health in­fra­struc­ture across Aus­trala­sia through

CPB Con­trac­tors.

“We’re par­tic­u­larly proud to be mak­ing this con­tri­bu­tion to the qual­ity of life and health care in this rapidly grow­ing and im­por­tant part of re­gional NSW,” he said.

CPB Con­trac­tors manag­ing di­rec­tor Juan San­ta­maria said the Coffs Har­bour Hos­pi­tal Ex­pan­sion project builds on CPB Con­trac­tors’ re­cent con­struc­tion of Syd­ney’s North­ern Beaches Hos­pi­tal and on­go­ing work at Ne­pean Hos­pi­tal.

“We’re com­mit­ted to work­ing closely with NSW Health In­fra­struc­ture to en­sure the safe and timely de­liv­ery of this im­por­tant project,” he said.

An artist’s im­pres­sion of the $116m Coffs Hos­pi­tal up­grade.

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