Service Stream Secures $440M NBN Upgrade

Service Stream Limited (ASX: SSM) announced it has secured a new agreement with NBN Co to continue supporting the upgrade of the remaining Fibre to the Node (FTTN) footprint. The agreement is valued at approximately $440 million over the initial term. Service Stream will provide specialist design and construction services to facilitate access to nbn Fibre to the Premises (FTTP) technology for eligible premises. This agreement extends the work currently performed under the existing N2P Evolution Agreement across Queensland, New South Wales, and Victoria, which was scheduled to conclude in Q3 of 2025. The new agreement has an initial term of 3.5 years and includes a 2-year extension option, at NBN Co’s discretion. According to Managing Director Leigh Mackender, Service Stream is proud to continue its role in supporting the important national infrastructure program. The company emphasizes the continuity and longevity this agreement provides to its existing design and construction operations with NBN. Service Stream is a public company listed on the ASX and provides essential network services to the telecommunications, utility, and transport sectors. The company has a workforce of approximately 5,000 employees and access to a pool of approximately 10,000 specialist contractors. This new agreement reinforces Service Stream’s position as a key partner in NBN’s ongoing infrastructure development efforts and highlights the company’s expertise in delivering essential network services across Australia.