Australian Premier vows financial boost to complete broadband network
Date
1/13/2025 3:08:36 AM
(MENAFN) Australian Premier has vowed a financial boost to "finish" the state’s National Broadband Network (NBN) and enhance internet speeds.
On Monday, Anthony Albanese pledged a 3 billion AUD (which makes up to 1.84 billion U.S. dollar) equity booster in the NBN to enhance access to fiber internet connections.
He stated that the extra funding would bring new fiber connections to 622,000 sites, with more than 50 percent in regional rural areas.
When the upgrade is finished by 2030, Albanese noted that at least 11 million homes and businesses are going to have access to internet speeds surpassing one gigabit per second (Gbps) in comparison to the existing average NBN speed of 76.64 megabits per second (Mbps).
"Families and businesses deserve high-speed Internet at an affordable price," Albanese declared at a news conference in Canberra together with Ellie Sweeney, the chief executive of the state-owned NBN Co, as well as Communications Minister Michelle Rowland.
As reported by News Corp Australia newspapers, the extra money would bring up the overall government investment in the NBN since its founding in 2008 to more than 35 billion AUD (21.5 billion USD).
Sweeney called the new project the "final piece of the puzzle" that would complete the network.
Modeling commissioned by the government revealed that the upgrade could result in a cumulative economic boost of 10.4 billion AUD (6.39 billion USD) over the next decade.
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