Ventia wins new NBN contract for on-demand services
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The news: Infrastructure services group Ventia has won a new contract with broadband provider NBN Co, expected to generate around $150 million in revenue over the next three years.
The numbers: Ventia shares edged up 0.33% to $4.60 in early trading, having grown more than 65% over the last 12 months.
The context: The contract, called the 'On-Demand New Developments Module', comes on the back of Ventia's recent award of another on-demand contract with NBN. Ventia said the two contracts position the company as a "key provider" to NBN for on-demand services across Australia.
The latest contract will see Ventia undertake the survey and construction to extend NBN's fibre network to multi-dwelling units, single-dwelling units, and simplex sites in regions within Queensland, New South Wales, Victoria, Tasmania and ACT.
The scope of the contract involves the installation of new NBN broadband infrastructure to various locations.
What they said: "Ventia has been delivering the On-Demand New Developments scope for NBN for nearly a decade, achieving exceptional results nationwide," Ventia group executive for telecommunications sMark Ralston said.
"This new contract is a testament to our long-standing, strategic partnership with NBN Co."
The source: ASX announcement
