The following media release is issued today by Ventia; a 50/50 investment partnership between CIMIC and its co-investor.
Ventia, an essential infrastructure services provider, has today announced that its telecommunications business, Visionstream Australia Pty Ltd has been awarded a significant new contract with NBN Co. The contract is expected to deliver revenue of approximately $400 million to Ventia over the next 2.5 years, subject to work orders and volumes.
The N2P Evolution contract supports NBN Co’s plans to extend fibre deeper into communities to make its highest wholesale speed tiers available, as demand arises, to around 8 million premises or up to 75 per cent of homes and businesses on the fixed line network by 2023.
The program continues NBN Co’s rollout of fibre, meaning eligible premises currently connected via Fibre-to-the-Node technology will progressively gain access to Fibre-to-the-Premises (FTTP) technology.
Ventia Group Chief Executive Officer Dean Banks said: “We are proud to be extending our long-term relationship with NBN Co. We will be using our knowledge of the nbn™ network – combined with our extensive experience managing other large-scale telecommunication network build and maintenance programs – to continue supporting the delivery of improved digital connectivity for our communities.”
“We will deliver these works across Queensland, New South Wales and Victoria utilising our client-focused, innovative and sustainable approach,” explained Tim Harwood, Ventia’s Group Executive of Telecommunications.
“We were instrumental in the delivery of the initial nbn™ build program and the subsequent maintenance of the nbn™ network over the past decade, and we are looking forward to delivering this new program of work,” said Tim.
Works under the scope of the new contract will commence immediately.