Service Stream (ASX:SSM) wins Sydney Water Contract

Service Stream (ASX:SSM) subsidiary Comdain, has been awarded a ten-year agreement by Sydney Water.

Service Stream as part of a consortium known as D4C will provide Sydney Water with a “TOTEX” asset management service covering the design, construction, maintenance and facility management of all treatment and network assets in its Southern Region.

Based on forecasts provided by Sydney Water, D4C’s revenue from service delivery is expected to be in the order of $200 million per annum.

Service Stream Managing Director, Leigh Mackender said “The appointment of D4C reflects the strong capability and prior track record that each of the senior joint venture partners has in delivering positive outcomes for Sydney Water and its customers over the years.

Shares in Service Stream (ASX:SSM) are trading 7.38 per cent higher at $2.62.

Copyright 2019 – Finance News Network

Source: Finance News Network