May 5 (Reuters) - Acciona SA ANA.MC :
* TO MODERNISE THE FRANKSTON RAILWAY LINE IN AUSTRALIA
* WORKS WILL INVOLVE REMOVING TWO LEVEL CROSSINGS AND CONSTRUCTING THE NEW GLENHUNTLY STATION BUILDING
* A CONSORTIUM LED BY ACCIONA HAS WON THE COMPETITION TO MODERNISE PART OF THE FRANKSTON RAILWAY LINE IN MELBOURNE, AUSTRALIA
* CONTRACT IS VALUED AT AU$ 507 MILLION (330 MILLION EUROS)
* PARTNERSHIP BETWEEN ACCIONA, WSP AND METRO TRAINS MELBOURNE PLANS TO BEGIN WORK BY THE END OF THIS YEAR, AND MAJOR WORKS WILL BEGIN IN 2022
* PROJECT WILL BE COMPLETED IN 2024, ONE YEAR EARLIER THAN INITIALLY ANNOUNCED