ECONOMY

Bidding for ultra-fast broadband services

bidding-for-ultra-fast-broadband-services

The government’s invitation for the submission of binding bids for the development of ultra-fast broadband (UFBB) services in the country was announced on Tuesday, following a decision by Electronic Governance Minister Kyriakos Pierrakakis.

The project is one of the biggest public & private partnership (PPP) projects in Europe, with a budget of 700 million euros, of which €300 million will come from public funding.

The project’s target is to set up 750,000 high-speed internet connections at 100 Mbps, upgradable to 1Gbps, according to the guidelines of the EU’s “Connectivity for a European Gigabit Society” plan.

The ministry’s digital transformation plan, alongside the UFBB project and other projects funded by the EU recovery fund, includes the implementation of 5G transmission corridors, the development of submarine cables, as well as inland infrastructure and microsatellites.