Jan 12 2011
Two subsidiaries of Quanta Services have won a $118.5 million fiber-optic contract from a group of research, educational, health care and other organizations.
Under the terms of the agreement, the company’s subsidiaries will handle the installation and design of a statewide optical network in Pennsylvania.
The group of economic-development firms, health care and research organizations, universities and colleges is known as the Keystone Initiative for Network Based Education and Research. The nonprofit group secured around $99.6 million as federal grant for the fiber optic project through the 2009 Stimulus Act.
Sunesys, Quanta;s subsidiary, will invest around $24 million for the infrastructure of the optical network project through a two-year period. Quanta will acquire specific rights associated with right-of-way access on the fiber network.
Source: http://www.quantaservices.com/