SYDNEY, Aug 6 (Reuters) – Shares of Service Stream fell 25% to an all-time low of AUD 0.10 on Tuesday after its joint venture abandoned contracts to build Australia`s national broadband network (NBN) in two states. Syntheo, a 50-50 joint venture between Service Stream and Lend Lease, will complete ongoing construction work in the states of Western And South Australia, but will not renew the contract with NBN Co to build its fiber optic network. “We are delighted to be working with these delivery partners to further develop the NBN network and ensure that more Australian households and businesses can access the broadband services they need to stay productive while working and studying from home, as well as enjoy all the social and entertainment benefits that broadband offers,” said Kathrine Dyer, Director of Operations. “As part of this contract, Downer will provide end-to-end design and construction services on NBN Co`s national fixed wireless network,” he said. Real estate and infrastructure group Lendlease has been engaged to provide NBN network infrastructure in the Sydney North and Gold Coast areas. “The union will continue to support [subcontractors] in this campaign to eliminate the job posting debacle, for fairer prices, a complete end to the pyramid contract model among all procurement partners, and a parliamentary inquiry to properly investigate the many allegations of corruption in the industry,” the announcement reads. NBN subcontractors who are part of cepu launched a protest earlier this week to protest the reduction in their wage rates. The subcontractors agreed to leave work on Monday and walked all week to NBN Co`s offices in Sydney, Melbourne and the CommsDay Summit. Visit the Service Stream news website > servicestreamcontractors.com.au the union said Lendlease has agreed to provide “a real way” for NBN`s subcontractors to have a direct contract if the company enters into a contract bypassing the prime contractors. “The new [construction] contracts will cover design and construction activities for the remaining 1.8 million additional premises eligible for upgrades from FTTN to FTTP by 2023,” NBN Co said.

The contract is a new job for Lendlease, which is already one of NBN Co.`s supply partners. Lendlease supplies NBN to Orange and Wagga Wagga in New South Wales, Redcliffe in Queensland and Frankston in Victoria. Please click to expand the business unit to find your project or website and click the button to access the registration process. You can also search for your project in the box below. Meanwhile, Transfield Services announced today that it has signed a $133 million contract with NBN Co for construction work in Victoria over the next two years. Again, this contract could be extended by two years and worth up to $395 million for the company. Transfield Services already has experience in building the NBN deployment after the completion of the construction of the Kiama building in June 2011. NBN Co has appointed two other contractors: Fulton Hogan Utilities, which will operate in Western And South Australia, and Lendlease Services, whose work will cover New South Wales, Victoria, Queensland and the ACT. However, it suspended tender negotiations in April on the grounds that it was not satisfied with the bids of the companies competing for the highest contract. In June, the company awarded a $1.1 billion contract to the Siemens-Theiss silcar joint venture for construction in Queensland, New South Wales and THE ACT. “It`s time for Service Stream to meet with the union to close their pyramid deals – time is running out for them as protests are currently planned at their sites,” the announcement said.

Lendlease Site Access is introduced in all our Australian projects. All work in the Northern Territory and Tasmania would be covered by “existing NBN construction contract agreements,” the company added. The Communications, Electrical and Plumbing Union of Australia (CEPU) and its NBN member subcontractors have entered into an agreement with lendlease, NBN`s co-procurement partner, to discuss the future of the grid`s model contract. Lendlease says the rollout of network infrastructure in the Sydney North and Gold Coast regions will go through more than 90,000 premises in the first 12 months alone. Lend Lease announced on the Australian Stock Exchange that its joint venture with Service Stream, Syntheo, has entered into a $174 million construction contract to launch the NBN in Western Australia over the next two years. The agreement has an option to extend for another two years, with the total potential value of the agreement for the joint venture estimated at $484 million. Discussions on Lendlease encourage NBN subcontractors to submit their Expressions of Interest (IDs) to Lendlease or to escalate previously submitted IOEs. Under the terms of the agreement, Lendlease will work with NBN CO on upgrades and renovations to the NBN network in both regions, including new on-site entrances, construction cabling and filling in designated areas of the hybrid fiber coaxial network (HFC). The union said the developments were “a massive step in the right direction” and a first victory for its NBN subcontractors.

Service Stream has entered into an agreement with Lendlease to acquire the ongoing business of Lendlease Services. NBN Co begins superstructuring parts of the fiber-node network with a complete fiber, with four construction partners involved to carry out the work. Four construction partners – Downer Group, Fulton Hogan Utilities, Lendlease Services and Ventia-owned Visionstream Australia – will handle more than a billion dollars of work as part of what NBN Co calls “N2P Evolution”. Service Stream was down 21.4% to 0.11 AUD around 0047 GMT. ($1 = 1.1229 Australian dollars) (Reporting by Thuy Ong; “Our calls for parliamentary scrutiny were heard by MP Michelle Rowland, Shadow Minister for Communications, who met sydney Subbies yesterday and pledged Labour`s support for our fight. If NBN Co were to use both extensions, the total amount of work Downer could receive under the deal would be up to $120 million. NBN Co has not yet commented on the announcement; However, a conference with NBN Co CEO Mike Quigley and construction manager Dan Flemming is scheduled for 1 p.m. .m.

“We have been instrumental in the implementation of the first NBN construction program and subsequent maintenance of the NBN over the past decade, and we look forward to implementing this new work program,” said Tim Harwood, Director of Telecommunications at Ventia Group. “Services include network planning, site acquisition and design (SAED), construction and integration activities to facilitate network capacity expansion, coverage expansion and transmission expansion that enable network upgrade and improvement.” Visionstream`s work spans 2.5 years, “subject to work orders and volumes, and includes Queensland, New South Wales and Victoria. The first job must be done “immediately”. “Our national expertise means we are able to quickly accelerate construction to deliver NBN`s infrastructure safely and efficiently.” “In addition to our technical experience, Transfield Services NBN Co can offer a unique, knowledge-based integrated service that includes our in-house design, air and project management capabilities.” Transfield CEO Peter Goode welcomed the signing of the contract. .