Forthnet, ZTE explore USD 500 mln partnership for fibre

News Broadband Greece 15 MAY 2017
Forthnet, ZTE explore USD 500 mln partnership for fibre
Forthnet and ZTE, further to the agreement signed between them in 2016 regarding the deployment of a fibre optic network in Greece, have signed a cooperation agreement with Shanghai Gongbao Business Consulting and KaiXinRong for exploring a business partnership for the financing of this fibre optic network. Under the deal, Shanghai Gongbao Business Consulting and KaiXinRong hope to invest up to EUR 500 million over the next 7 years for the deployment of a new telecommunication access network in Greece based on fibre optic technology that will support Gigabit connections.

The bulk of the investment will be carried over the first three years, combined with an expected subsidy by the EU for fibre optic connections. The subsidy is being managed by the Greek government.

he cooperation agreement was signed on 13 May during the visit of Prime Minister of Greece, Alexis Tsipras, to Beijing for the “Belt and Road Forum for International Cooperation, between officials of Forthnet, ZTE Hellas, Shanghai Gongbao Business Consulting president and KaiXinRong Group.

Categories:

Fixed

Companies:

Forthnet,  ZTE

Countries:

China,  Greece

Tags:

Cooperations & alliances, Network equipment, Fibre, Government policy

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