CIMIC Group
(ASX:CIM) has announced a division of Ventia, its 50 percent owned associate, has been awarded an extension to its contract with Telstra.
Visionstream, the telecommunications division of Ventia, will work with Telstra to deliver Wideband services across Australia as part of the deal.
The new contract will generate revenue of approximately $250 million for Ventia over three years.
Visionstream will deliver the program management, design, construction and integration of networks supporting Telstra’s suite of voice, data and IP products across Australia.
CIMIC Group reported a net profit of $244.6 million at 30 June 2016.
