- DXN (DXN) signs a third contract with SUB.CO for additional works as part of the Oman Australian Cable System
- The contract is worth around $2.5 million, making the total contract value for this project around $4.25 million
- The Oman Australia Cable connects Muscat to Perth via a subsea cable route
- Under the contract, DXN will provide additional fibre and civil works
- DXN is trading down 8.33 per cent at 1.1 cents per share at 2:22 pm AEDT
DXN (DXN) has singed a third contract with SUB.CO for additional works as part of the Oman Australian Cable System.
The contract is worth around $2.5 million, making the total contract value for this project at around $4.25 million.
SUB.CO provides cable system design. consultation and can also help with cable systems development and associated assets.
The Oman Australia Cable connects Muscat to Perth via a subsea cable route, which avoids zones within Asia that are affected by territorial disputes or extreme natural events.
Under the contract, DXN will provide additional fibre and civil works.
DXN’s CEO, Mathhew Madden, is pleased to be selected by SUB.CO for the additional works for the Oman Australia Cable System.
“The contract with SUB.CO is the third extension to an existing contract announced in December 2020 and demonstrates the continued trust in our capability and teams’ performance in delivering,” he said.
“We are really happy with the start to this financial year with our third major contract win bringing contract sales to around $6.9 million.”
DXN is trading down 8.33 per cent at 1.1 cents per share at 2:22 pm AEDT.