Service Stream picks up Telstra contracts

Good news arrives for the embattled networking services company as it picks up three Telstra contracts after Monday's announced departure of its managing director.

Service Stream today announced that it has won three Telstra contracts, with a potential worth of up to AU$135 million.

The first contract is a new two-year contract for rolling out fibre to the premises for commercial estates, and the company estimates its value as AU$30m. The second contract, worth up to AU$55m, is a three-year renewal to its Asset Relocation and Commercial Works contract with Telstra. Completing the trio is a two-year extension worth $50m on its mobile infrastructure contract with Telstra on Site Acquisition, Environment, and Design.

"These contracts display the continued confidence that Telstra has in our ability to deliver essential network services," said Service Stream executive director Brett Gallagher in a statement.

Service Stream is currently in the midst of trying to find a new managing director by month's end, after the announcement of the departure of Graeme Sumner on Monday.

The networking services company is a National Broadband Network (NBN) construction partner, and its Syntheo joint venture with Lend Lease has hit significant delays in Western Australia, South Australia, and the Northern Territory. It was these delays that resulted in NBN Co revising its rollout targets.

Last month, Syntheo handed back its contract to roll out the NBN in the Northern Territory.


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