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.

Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.

Join the newsletter!


Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags Telecommunicationsbusiness dealsCrown Fibre HoldingsTransfieldASX:TSEWEL Networks

More about IslandTelecom New ZealandTransfield Services Australia

Show Comments