Australia's Ventia Services gains on service contract win

Ventia Services

22/08/2022 05:33

** Shares of Ventia Services Group Ltd  VNT.AX  gain as much
as 4.3% to A$2.92, see their best day since Aug. 2 if gains hold
    ** Infrastructure solutions provider says it has been
awarded a contract to deliver build services for Telstra InfraCo
 urn:newsml:reuters.com:*:nFWN2ZW06B
    ** Co says as part of contract, it will lead design and
construction of specific high-capacity optic fibre routes,
including various fibre links between Melbourne and Sydney, and
Sydney to Wilmington in South Australia
    ** Adds contract will start immediately, and the first phase
is expected to generate about A$125 mln ($86.25 mln) in revenue
over three years 
    ** Stock had fallen 40% this year, as of last close

($1 = 1.4493 Australian dollars)

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))