DXN (ASX:DXN) picks up fourth contract with SUB.CO for Oman-WA cable project

• DXN (DXN) signs a fourth contract with SUB.CO for additional works on the Oman Australia Cable System
• The contract is worth $1.2 million, taking DXN’s total contract value from the project to $5.43 million
• DXO says expected completion of the additional fibre and civil works on the project is set for mid-2022
• The Oman Australian Cable is designed to connect Oman capital Muscat to Perth via a subsea cable route that avoids zones within Asia affected by territorial disputes as well as extreme natural events
• DXN shares 12.5 per cent higher at 0.9 cents

Pre-fabricated modular data centre specialist DXN (DXN) has signed a fourth contract with cable system design firm SUB.CO for additional fibre and civil works on the Oman Australia Cable System.

The company said the latest contract was worth about $1.2 million, taking its total value of contracts awarded for the project to about $5.43 million.

DXO said the additional fibre and civil works were expected to be completed by the end of June 2022.

The Oman Australia Cable is designed to connect Oman capital Muscat to Perth via a subsea cable route that avoids zones within Asia affected by territorial disputes as well as extreme natural events.

“The contract with SUB.CO is the fourth extension to an existing contract announced in December 2020 and demonstrates the continued trust in our capability and teams’ performance in delivering,” DXN CEO Shalini Lagrutta said.

“This contract is included in DXN’s year to date sales bookings of about $13.7 million.”

DXN shares were trading 12.5 per cent higher at 0.9 cents at 2:16 pm AEDT.