Service Stream (ASX:SSM) won two key contracts to provide critical infrastructure support to companies from the utility and telecommunication sectors, according to a Tuesday filing with the Australian bourse.

The contracts include an estimated AU$325 million deal with NBN Co for a range of services, such as service activations, as well as operations and maintenance services.

The other contract is for water distributor-retailer Urban Utilities for up to 10 years at an estimated value of up to AU$50 million per year. Under the deal, Service Stream will be in charge of the maintenance services on 114 reservoirs, 150 water boosters and pump stations, 27 wastewater treatment plants, and 339 wastewater pump stations, as per the filing.

Service Stream's shares were up nearly 1% in afternoon trade Tuesday.

Price (AUD): $1.63, Change: $+0.02, Percent Change: +0.93%