Source: Ventia
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • CIMIC Group’s (CIM) essential service 50 per cent owned subsidiary, Ventia, has won two contracts with Anglo American and Telstra (TLS)
  • The contract with Telstra is for field optimisation and has an estimated revenue of $570 million
  • This contract will build on the company’s 25-year relationship with Telstra
  • Additionally, Ventia has also won a contract to perform general facility and asset management services to Anglo American’s Metallurgical Coal business operations in the Bowen Basin, Central Queensland
  • The contract is for four years and is expected to bring in a total revenue of $216 million and includes an option to extend for an additional year
  • On market close, CIMIC is down 1.28 per cent and is trading at $25.48 per share

CIMIC Group’s (CIM) 50 per cent owned subsidiary, Ventia, announced it has won two contracts with Anglo American and Telstra (TLS).

Ventia provides essential infrastructure services for communities in Australia and New Zealand.

Telstra

The contract with Telstra is for field optimisation and has an estimated revenue of $570 million.

Ventia’s work includes the delivery of network services, maintenance and building services and network integrity.

This contract will build on the 25-year relationship between both companies.

“The Telstra Field Optimisation contract provides us with an opportunity to strategically partner with Telstra as it simplifies its business,” Ventia’s Group Executive Tim Harwood said.

“This will be achieved by delivering the highest-quality field operations for Telstra at a lower cost that is based on economies of scale, effective optimisation programs and improved ways of working supported by digital enhancements,” he added.

Anglo American

Earlier this morning, CIMIC announced Ventia won a contract to perform general facility and asset management services to Anglo American’s Metallurgical Coal business operations in the Bowen Basin, Central Queensland.

The contract is for four years and is expected to bring in a total revenue of $216 million and includes an option to extend for an additional year.

Under the contract, Ventia will provide services to Anglo American’s
North, Grosvenor and Dawson mines, as well as to the accommodation villages and company housing.

“We are proud to have been awarded this facility and asset management services contract with Anglo American,” Ventia Executive of Defence and Social Infrastructure Derek Osborn said.

“We aim to help support the safety, health and wellbeing of everyone on-site through our services. This will be enabled by our ability to harness technology and provide a tailor-made solution to support Anglo American’s facilities and assets. We will provide a strong focus on asset lifecycle management and our technology platform will help us achieve this,” he added.

On market close, CIMIC is down 1.28 per cent and is trading at $25.48 per share.

CIM by the numbers
More From The Market Herald

" Appen (ASX:APX) positioned to weather pandemic, reaffirms guidance

Data annotation and artificial intelligence company Appen (ASX:APX) has today reaffirmed its guidance for the 2020…

" Appen (ASX:APX) beats earnings guidance, outperforms a weak market

Data annotation and artificial intelligence specialist Appen (APX) has soared today after beating its earnings guidance…
Appen (ASX:APX) - CEO, Mark Brayan

" Appen’s (ASX:APX) shares rise on business restructure

Machine intelligence company Appen (ASX:APX) has made some changes to the structure of its business.
The Market Herald Video

" Appen (ASX:APX) receives $1.17b takeover bid from Canadian tech giant

Appen (ASX:APX) has received an unsolicited $1.17 billion takeover bid from Canadian telco giant Telus International.