Transfield wins second UFB subcontract

Transfield wins second UFB subcontract

Project management and services company Transfield Services (ASX:TSE) has won a second multi-million dollar subcontract from New Zealand's Ultrafast Fibre (UFB) project.

UltraFast Fibre Limited, a subsidiary of NZ electricity distribution company WEL Networks, has contracted Transfield to help design, roll out and maintain parts of the fibre network.

The deal, worth NZ$202 million ($164 million) covers around 430,000 residents in some regions of the North Island.

Crown Fibre, the state-owned company set up to oversee the UFB project, last year selected UltraFast Fibre as one of its partners.

The NZ$1.5 billion UFB project aims to roll out a wholesale fibre network to 75% of New Zealand homes.

WEL Networks, along with Enable Networks and Northpower, are between them responsible for rolling out to the 30.6% of homes that won't be covered by Telecom New Zealand.

Earlier this month, Transfield revealed it had won a NZ$260 million contract to provide similar services for Enable's portion of the network.

Both contracts have a 10-year term and are scheduled to take effect from July.

TSE shares grew 0.29% in Wednesday's trading to $3.410.

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Tags Telecommunicationsbusiness dealsCrown Fibre HoldingsTransfieldASX:TSEWEL Networks

More about IslandTelecom New ZealandTransfield Services Australia

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