Telstra contracts GenusPlus

13/01/2022 - 15:30

Bookmark

Save articles for future reference.

Electrical services business GenusPlus Group has won a $40 million contract from Telstra, as part of the telco giant’s move to decommission its exchange buildings across Australia.

Telstra contracts GenusPlus
Telstra is decommissioning its exchange buildings across Australia. Photo: Gabriel Oliveira

ASX-listed electrical services business GenusPlus Group has won a $40 million contract from Telstra, as part of the telco giant’s move to decommission its exchange buildings across Australia.

GenusPlus said it had secured the three-year contract through its subsidiaries, which include Genus Services, Powerlines Plus, and Proton Power.

The work is associated with Telstra's Copper Cable Recovery and Disposal program, which involves the removal of underground cables. 

Specifically, it involves hauling, installation, termination, testing, recovery, and recycling of the company's copper cable network.

The contract falls under an existing agreement with Telstra which GenusPlus gained when it acquired Victoria’s Tandem Corp in mid-2021.

“It is very satisfying for the GenusPlus group to see the new communications team be rewarded with a long-term Telstra contract to deliver the Copper Cable Recovery and Disposal program,” GenusPlus managing director David Riches said.

The contract includes two one-year extension options, with work to start immediately.

GenusPlus’ shares remain unchanged on Thursday, closing at $1.25 each.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

Subscription Options