News: Downer EDI scores NBN work

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Downer EDI Limited (ASX:DOW) has been contracted to roll out the national broadband network in Brisbane and Melbourne.

 

The engineering company has won contracts with NBN Co to deliver fibre optic broadband to 300,000 premises across the two cities.

 

Under the contracts, Downer will design and construct the local distribution network that runs fibre from a communications exchange through each street in a coverage area.

 

Downer already has contracts to roll out the network in northern New South Wales and to connect multi-dwelling units, such as blocks of flats, to the NBN in Victoria and NSW.

 

Meanwhile, NBN contractor Syntheo will pull out of work on the network early next year.

 

Downer EDI delivered a net profit of $204 million in fiscal 2013.