Chorus Signs Agreements With Service Partners for Build, Maintenance of New Zealand Broadband Network
Chorus (ASX:CNU, NZE:CNU) said it signed new field services agreements with its service company partners, Downer EDI (ASX:DOW, NZE:DOW) and Universal Communications Group, to support the build, maintenance, and connection activities across Chorus' critical broadband network in New Zealand, according to Friday filings with the Australian and New Zealand bourses.
The deals are worth around NZ$1 billion.
The agreement with Downer will see the firm manage network activities across the South Island and lower North Island of New Zealand under a seven-year contract from April, running through to 2032.
Downer said that its agreement is valued at more than NZ$550 million. It added that the scope of work covers construction and augmentation of the fiber network, copper and fiber network maintenance and restoration, customer connections, and maintenance in various premises.
Meanwhile, UCG will continue to oversee work in the upper North Island, with its existing contract extended from 2029 until 2035.
Chorus' shares were up almost 1% in recent Friday trade in New Zealand.
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