Ventia secures amended NBN contract, projected revenue tops $1b
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The news: Infrastructure group Ventia has secured an amendment to its new fibre upgrade contract with NBN, which is expected to add another $280 million in revenue over the next 3.5 years.
The numbers: The amendment, awarded to Ventia subsidiary Visionstream Australia, is expected increase revenue from the contract from $800 million to $1.08 billion.
The context: The contract will see Ventia deploy additional fibre infrastructure for NBN's broadband network in Queensland, New South Wales, Victoria, Western Australia and Tasmania.
Under the amended terms, Ventia will extend work to parts of the ACT.
Construction engineering company Service Stream also secured an amendment to its contract with NBN on the same works. It expects the new terms to deliver $360 million in revenue over the same period, additional to the $440 million secured in the existing contract.
