Service Stream Secures AU$144 Million of Maintenance Contracts From Transport for Victoria

MT Newswires Live11:10

Service Stream (ASX:SSM) secured two intelligent transport system maintenance contracts from Transport for Victoria worth an aggregate AU$144 million over their initial five-year terms, according to a Thursday filing with the Australian bourse.

Both the Victoria West contract and the Motorway Communications Network contract have two extension options for a further two years, and are expected to start in the fourth quarter, per the filing.

Service Stream said it will provide a range of routine and reactive maintenance services, including program management, asset monitoring, inspections, servicing, fault management, and network operations support.

The company's shares fell 2% in recent Thursday trade.

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