Faster internet for Victoria with NBN & state funding plan
Faster internet could be on the cards for Victorians with the state government and NBN Co signing a co-investment agreement to deliver more fibre and quicker internet to more areas across the state.
NBN Co will draw on the funds to install a range of new infrastructure, focusing on properties in regional and remote communities and creating new business broadband services.
The regional co-investment fund between the Victorian Government and NBN Co will focus on upgrading the NBN fixed wireless and satellite footprint, to enhance infrastructure and aid in delivering high-speed broadband services to regional communities.
Retail service providers will also be able to offer around 10,000 businesses located across 11 identified new ‘Business Fibre Zones’ in outer metro and regional Victoria connections to business-grade fibre, at no upfront cost to NBN Co.
The Victorian government has committed $73 million to be held on trust by NBN Co for co-funding new network infrastructure in key areas of the state. NBN Co previously allocated $300 million for regional co-investments and an additional $50 million to work alongside local councils and state governments, to extend businesses services outside of existing NBN business fibre zones.
NBN Co says the regional co-investment fund will allow the company to meet the growing and diverse needs of Australians working and living in regional areas, while delivering social and economic benefits to regional and rural communities.
“We are delighted to work with the Victorian Government to identify opportunities to co-invest in the development and delivery of new NBN network infrastructure to support the Connecting Victoria Program”, chief executive of NBN Co Stephen Rue said.
“When we made a substantial commitment to network upgrades towards the end of last year, we also announced that this would include significant funding to be made available for co-investment opportunities with state and territory governments and local councils.”
Victoria will be the first state to take advantage of the co-investment opportunity as the government agrees to supply co-funding for infrastructure upgrades as a part of its Connecting Victoria program.
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