Downer EDI (ASX:DOW, NZE:DOW) secured an electricity field services agreement worth up to NZ$600 million with New Zealand energy distribution company Powerco, according to a Monday filing with the Australian and New Zealand bourses.
The company will provide maintenance, capital works, and fault repair services across Powerco's North Island electricity network, the filing said.
The contract, starting July 1, includes an initial five-year term valued at NZ$250 million, with extension options for a further seven years, the filing added.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.