AAP Finance

Downer wins Chorus network contract in NZ

By AAP Newswire

Downer has won a $220 million contract with Chorus Limited to build and maintain network infrastructure for New Zealand's largest telecommunications company.

The engineering firm said the 2 3/4-year contract will expand its New Zealand footprint when it begins on July 1.

"Downer has a long term relationship with Chorus and our New Zealand team is the leading provider of end-to-end technology and communication solutions," chief executive Grant Fenn said on Tuesday.

"This contract doubles our geographic spread and we will work with Chorus on the construction and maintenance of their network."

Downer build and sustain assets, infrastructure and facilities primarily in Australia and New Zealand, but also the Asia-Pacific region, South America and Southern Africa.

Most of New Zealand's telephone infrastructure is owned by Chorus Limited, which is installing the majority of the ultra-fast broadband fibre.

Downer shares dropped 1.8 per cent to $7.79 at 1038 AEST against the backdrop of an overall decline in the Australian share market.