SSM most probably will make huge bucks out of the NBN project...

SSM most probably will make huge bucks out of the NBN project which is now going to be a reality with the new Labour Govt. The SP will most probably break out long term 32.50c resistance level today and will be hard to buy it at these levels anymore.

From The Australian Business today, 8 Sept.2010
"Election result finally clears way for Telstra and NBN" Click here

Let's not forget,Patrick Flannigan, the founding Managing Director and ex-CEO of SSM, is now the Head of Construction of NBN Co. Ltd. (Click here)

Now, also let's remember SSM's anns. on 12 May 2010; SSM renews and expands key services contract with Telstra, Click here

- More than $250m estimated revenue pa for the next two years
- Expanded scope to include all of South Australia and Western Australia
- Significant strategic value to Service Stream for NBN rollout
- Two NBN trial site designs already completed

Service Stream Limited (ASX Code: SSM) is pleased to announce that it has been awarded a two year extension to its major national contract with Telstra Corporation Limited (ASX Code: TLS) referred to as the Access and Associated Services (AAS) contract.

The renewed AAS contract covers the existing areas in Queensland, New South Wales, Victoria and Tasmania, Northern Territory and South Australia. Significantly, it has also been expanded to incorporate the whole of Western Australia and South Australia.

Service Stream will now provide over 60% of the outsourced services of Installation, Maintenance and Construction of copper, fibre and broadband networks from the exchange to Telstras customerspremises. Service Stream estimates that it will undertake services worth over $250 million per annum under the contract, up from $220 million in the current year.

This announcement is particularly significant for Service Stream as it comes at a time when the industry has substantial new infrastructure investment underway or planned for the near future, such as the National Broadband Network. Service Stream has already undertaken two of the designs for National Broadband Network trial sites at Armidale and Minnamurra, and continues to participate in tenders for further design work, as well as the construction arising from that design work.

The confirmation of this contract renewal ensures that we will continue to have one of the largest skill bases in Australia to participate in the rollout of the physical network.