Service Stream Secures Major Contracts Worth $455M
Key points
- $405M contract with Yarra Valley Water for 9 years
- $50M contracts with Millmerran Operating Company
- Strengthens Service Stream's portfolio in critical infrastructure
Full summary
Service Stream Limited, an essential network services company, has announced securing two significant contracts worth a total of $455 million. The first, a nine-year agreement with Yarra Valley Water, valued at approximately $405 million, will see Service Stream provide mechanical, electrical, and civil maintenance services across water and sewerage networks and treatment facilities in Melbourne's northern region. The second set of contracts, worth around $50 million, with Millmerran Operating Company will support major and forced outage works at the Millmerran Power Station in Queensland. These contracts enhance Service Stream's presence in critical infrastructure sectors.
Guidance
Service Stream expects additional annuity-style revenue from the Yarra Valley Water contract.
Outlook
Service Stream is optimistic about the long-term benefits of these contracts, reinforcing their role in critical infrastructure maintenance.
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