Downer secures more than $220M in NBN fibre build contracts
Downer secures more than $220M in NBN fibre build contracts
Downer will design and provide construction services across NSW and Western Australia. Credit: Dreamstime
Downer EDI has secured two further contracts with NBN Co the N2P Evolution and National Broadband Network (NBN) fixed wireless services contracts.
The N2P evolution contract, valued at $160 million, commences this month with the initial term lasting to December 2023, and comes with an extension option for a further two years.
Specifically, Downer will design and provide construction services across NSW and Western Australia to support NBN Co’s fibre plans. It is estimated this involves about 8 million premises on the fixed line network by 2023.
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Material Losses
After Tuesday’s strong blue chip-led rally for the ASX200, the futures showed down -12 yesterday morning which was unsurprising, but it was not to be. From the open, the index made another assault on the 7400 level.
At midday the index was up 25 points and just a tad over 7400 but then in came the sellers, with some no doubt deciding the impending Fed meeting was sufficient reason to take profits.
In the wash-up, the final score was materials versus the rest. Big falls in copper, nickel and gold had materials down -1.6%, which translated into a -6.7% drop for copper miner OZ Minerals ((OZL)) and -1.7% for copper miner BHP Group ((BHP)), along with -4.8% for Nickel Mines (NIC)) and -1.3% for Newcrest Mining ((NCM)), to name a few.