.
Lend Lease Group (ASX:LLC) says it will take the full load of NBN commitments after its joint venture partner Syntheo pulled out of the project.
Syntheo and NBN Co say they will not extend Syntheo's contract to build the NBN in South Australia and Western Australia after it expires in November.
Lend Lease, which is a 50 per cent stakeholder in the Syntheo joint venture, says it will assume all remaining obligations for Syntheo's NBN commitment.
NBN Co says the issue will not affect the planned completion date for the NBN in 2021.
According to media reports, NBN Co will have to negotiate with SA Power Networks to take on a larger role in South Australia to make up for Syntheo's exit.
Lend Lease generated a net profit of $302.8 million in the first half of fiscal 2013.
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