Prime Minister Kevin Rudd is expected to announce the winner of the government's $4.7 billion National Broadband Network contract early this morning at 8:15AM at a Canberra press conference with Communications Minister Stephen Conroy and Treasurer Wayne Swan.
The trio this morning announced they would hold the briefing, following Rudd's return from the G20 summit in London last week.
The project has been described as the biggest infrastructure undertaking in Australia since the Snowy Mountains Hydro-Electricity Scheme.
It will provide a major boost to economic growth and jobs at a time when the economy has ground to a halt under the weight of the global financial crisis.
Bids were made by six potential builders, but Telstra, Australia's largest telco, was expelled from the tender process after it failed to meet government guidelines.
That leaves five parties vying for the government's $4.7 billion contribution to the national broadband network (NBN) cost, which is estimated to total $15 billion.
The Acacia consortium, comprising wealthy businessmen and telco veterans, is the favourite to be named the winner, over Optus and Canadian telco Axia NetMedia.