Service Stream Limited (ASX:SSM) Secures Key Contracts
Service Stream Highlights New Agreements
Service Stream Limited (ASX: SSM) has announced the award of several key contracts, enhancing its essential services within the utility and telecommunication sectors. The new agreements significantly bolster the company’s operational portfolio and secure future revenue streams.
Long-Term Agreement with Urban Utilities
The company has finalized a long-term contract with Urban Utilities to provide maintenance services across their network for up to 10 years. The agreement, valued at approximately $50 million annually, supports Urban Utilities’ commitment to delivering efficient water services to over 1.6 million customers in South East Queensland.
Leigh Mackender, Managing Director of Service Stream, expressed enthusiasm about the partnership, stating, “Service Stream is very pleased to have secured this strategic long-term agreement with Urban Utilities and looks forward to continuing to partner with our valued client.”
Service Stream will manage maintenance operations across an extensive network, including 114 reservoirs and 339 wastewater pump stations. The agreement aims to enhance safety, reduce costs, and improve operational efficiency for Urban Utilities.
Agreements with NBN Co
Service Stream has also secured agreements with NBN Co, collectively valued at an estimated $325 million. The extension of the Unified Field Operations agreement ensures continued support for service activations and maintenance of the nbn network until at least September 2025.
Additionally, a New Developments Module has been established to deliver survey and construction services across New South Wales, Victoria, and Queensland for a three-year term, supporting new development sites of various sizes.
Leigh Mackender remarked, “As a leading provider of services to the telecommunications industry, we are delighted to continue to provide vital support to nbn and its customers.”
This series of contract wins reinforces Service Stream’s commitment to enhancing its operational footprint and securing long-term growth opportunities within critical infrastructure sectors.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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