NBN Co has awarded Service Stream a contract to roll out the FTTH network in new estates in Western Australia, South Australia, New South Wales and Northern Territory.
Service Stream (ASX: SSM) already undertakes this work as a subcontractor to Fujitsu which was awarded a greenfield FTTH rollout contract in May 2011. Service Stream said it expected revenues from both contracts to be about $100m over the next 18 months. The geographic scope of Fujitsu's greenfield rollout contract was not specified.
Also, Service Stream has a joint venture, Syntheo, with Lend Lease that has been awarded brownfield NBN FTTH rollout contracts for South Australia and the Northern Territory and for WA.
The SA and NT contract is worth $141m over two years and potentially $341m if extended for a further two years. The WA contract is worth $174m over the initial two years and $484m if extended for a further two years.
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Tracking the telecoms industry since 1989, Stuart has been awarded Journalist Of The Year by the Australian Telecommunications Users Group (twice) and by the Service Providers Action Network. In 2010 he received the 'Kester' lifetime achievement award in the Consensus IT Writers Awards and was made a Lifetime Member of the Telecommunications Society of Australia. He was born in the UK, came to Australia in 1980 and has been here ever since.
