Ventia (ASX:VNT) and Telstra (ASX:TLS) have signed a five-year strategic agreement.
The agreement is expected to generate over $400m annually for Ventia, totalling more than $2bn over five years.
Under the agreement, Ventia will manage the lifecycle and fixed network services for Telstra's digital infrastructure facilities across Australia. This includes the design, construction, and maintenance of critical digital assets. The deal also encompasses large-scale asset relocations and commercial works, along with ongoing support for the design and construction of key network elements, such as wideband, optical fibre, data, IP networks and wireless systems.
Ventia's Group Chief Executive Officer and Managing Director, Dean Banks, commented: "We are proud to have been a trusted partner to Telstra for nearly 30 years and we are excited to expand our partnership to support their strategic goals."
The new contract will take effect in early 2025, following the expiration of existing contracts in late December 2024.
Shares in Ventia are trading 2.9% higher at $3.55.
