Lend Lease has recorded a $17.8 million loss due to the embattled Syntheo joint venture between Lend Lease and Service Stream.
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The embattled Syntheo joint venture between Lend Lease and Service Stream will not have its National Broadband Network (NBN) contracts extended following the completion of its work in progress, expected to be finished by early 2014.
NBN Co construction partner Service Stream has extended its trading halt until Monday next week pending an announcement in relation to Syntheo.
One half of a joint venture formed to bid for the $12 billion nationwide NBN construction tender has been chosen to build fibre out to seven Tasmanian towns as part of the second stage of rollout on the island.