Under the agreement, CPB Contractors will deliver concrete and detailed earthworks for a wet processing plant at Iron Bridge.

Work will commence this year and is scheduled for completion in 2021.

This contract contributes to the approximately $128 million in revenue received by CPB alongside a water project secured with the Queensland Government-owned water service provider, Sunwater.

“The award of these contracts is recognition of our people’s expertise in delivering essential and strategic infrastructure projects,” CPB Contractors managing director Diego Zumaquero said.

CIMIC Group chief executive Juan Santamaria added that the company was pleased to support major corporate businesses and governments in the delivery of the projects.

“The range of work being won by CPB Contractors demonstrates the extent of the capability that we provide to clients to produce reliable, safe and efficient outcomes,” he said.

The Iron Bridge project is a joint venture between Fortescue subsidiary FMG Iron Bridge and Formosa Steel IB.

It is anticipated to deliver 22 million tonnes a year of high grade 67 per cent iron magnetite concentrate product, with first ore on ship scheduled for mid-2022.