Cimic and Elliott will jointly control Thiess.
Work is set to start this year and continue through 2021.
UGL managing director Jason Spears said the company looked forward to carrying out the contracts.
Exclusivity agreement signed with Elliott Advisors for a potential equity partnership in Thiess.
Company believes it is well set up for at least the next two years.
Work to provide maintenance, shutdown and project services.
Works worth a collective $150 million.
Volume of work has been disappointing, analyst says.
Work includes building four locomotives for Pacific National.
Botswanan diamond mine work to keep Thiess busy for the next nine years.
Heron, Sedgman digging in for contract battle.
Design and early procurement work is to start immediately.