Leighton subsidiary awarded NBN contract

By a staff reporter

Leighton Holdings Ltd subsidiary Visionstream Australia has contract with NBN Co for the roll out of the national broadband network in Victoria, Queensland and southern New South Wales, which the group says has the potential to earn it around $1 billion.

In a statement to the Australian Securities Exchange, Visionstream said it had been awarded three work packages worth $334 million, comprising passive fibre network design and construction to bring high speed, fibre optic broadband to Melbourne, Brisbane and NSW cities including Wollongong.

The group said the contract was for two years, with options for two addition one-year extenions.

The payment from the extension could push the figure toward $1 billion, VIsionstrem said.

“Visionstream has proven itself as a reliable, expert and capable partner for NBNCo and we look forward to delivering broadband benefits to Victorian, New South Wales andQueensland communities," managing director of Leighton Contractors Craig Laslett said.

“This contract enables Visionstream to continue to grow and create a substantial number of new employment opportunitiesin the local areas.”