NBN Co to upgrade 200,000 more premises with 1 Gbps fibre
NBN Co will upgrade the network connection to a further 200,000 premises with fibre capable of speeds of up to 1 Gbps in the latest tranche of the FTTN/FTTP upgrade initiative.
The company has now enabled gigabit-capable connectivity across more than 40% of the fixed line component of the network, according to Minister for Communications, Urban Infrastructure, Cities and the Arts Paul Fletcher.
“More than 110,000 new homes and businesses were connected to the NBN network during the [first] quarter, taking total activations to 8.3 million,” he said.
The upgrades form part of NBN Co’s $3.5 billion in network investments that will see up to 75% of the network able to access ultrafast broadband by the end of 2023, Fletcher said.
NBN Co reported total revenue for Q1 of $1.25bn, up 17% year-on-year. Finance Minister Simon Birmingham said the strong results come amid NBN Co’s ongoing transition to its operational phase.
“NBN Co continues to perform strongly as it focuses on supporting household and business customers during the pandemic,” he said.
“This result has enabled NBN Co to repay a further $2.325 billion towards its government loan during the quarter, whilst also allowing further investments, including network upgrades to ensure it continues to meet the needs of its customers.”
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