News: Leighton wins $650M rail contract

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Leighton Holdings Limited (ASX:LEI) subsidiary Thiess has won a $650 million contract to deliver the Moreton Bay rail link.

 

The company says the link will provide access to a major suburban growth corridor in South East Queensland.

 

The 12.6 kilometre rail link will connect the greater Brisbane rail network, which currently ends at Petrie, to the growing Moreton Bay region.

 

CEO Hamish Tyrwhitt says the contract award is one of $5.5 billion worth of projects the company has taken on in the past six weeks.

 

He says the company can continue to sustain its work in hand, despite the challenges it faces in the coal sector.

 

Leighton generated a net profit of $442 million in its 2012 financial year.