Service Stream, Genus Plus add NBN contracts totalling $570m
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More news: ServiceStream and GenusPlus have secured additional contracts to support upgrades of NBN Co’s remaining fibre-to-the-node network, collectively worth $570 million.
The agreement with construction engineering company Service Stream will be worth $440 million over an initial three and a half year period, with the option to extend for another two years.
The company will provide design and construction services to help eligible premises secure progressive access to NBN fibre-to-the-premises technology.
Existing work in Queensland, New South Wales and Victoria that was due to wrap up in Q3 2025 will now be delivered under the new contract.
Meanwhile, Genus Plus will carry out similar work across Western Australia for $130 million, also to be delivered over three and a half years.
At 12:08pm AEST, shares in Service Stream had dropped 0.26% to $1.94, while shares in GenusPlus had risen 2.4% to $3.42.
Ventia awarded $800m NBN contract, shares slide
The news: Infrastructure group Ventia has been awarded a new contract by NBN to deploy additional fibre infrastructure for the government-owned telco's broadband network in Queensland, New South Wales, Victoria, Western Australia and Tasmania.
The numbers: The contract, awarded to Ventia's subsidiary Visionstream Australia, is expected to deliver around $800 million in revenue over the next 3.5 years.
Ventia will deploy additional fibre infrastructure to enable 175,000 premises transition from Fibre to the Node (FTTN) to Fibre to the Premises (FTTP) technology.
Ventia shares were down 1.8% to $4.84 at 11am AEST, having advanced 35% since the turn of the year.
The context: Ventia has been a strategic partner to NBN since 2010. The new contract, which will commence this month, carries an option to be extended by two years, at NBN’s discretion.
The source: ASX
