The New Zealand government on Wednesday announced it has agreed a $15 billion investment with Israel’s Tel Aviv Telecommunication Company (TTC) for superfast fibre-optic broadband services that will make New Zealand the first country to offer this service to the country’s citizens.
The Tel Aviv Telecommunications Company (TT) will operate as a joint venture between the Government and Tel Aviv University.
“This is an important step forward in the long-term evolution of New Zealand’s national broadband network,” said New Zealand Chief Information Officer Tim White.
“New Zealand is committed to creating an open, interoperable, high-quality broadband network that works for everyone, not just those at the top.”
Prime Minister Jacinda Ardern said the Government had invested in a company that “has the resources, the vision and the capacity to deliver this level of high-speed, high bandwidth broadband services to New Zealanders.”
The announcement follows a deal signed with Tel Aviv Telecom to provide high-definition fibre optic broadband to more than 700,000 households.
TTC is also building a new fibre-to-the-home network in Auckland.
The government will make $1 billion in capital commitments to the investment, which will be used to build out and extend existing services in Auckland and Wellington.
The Government has already committed $3 billion to its superfast internet infrastructure investments, which it hopes will generate the same level of investment and economic growth as the NBN.
“The New Zealand Government is committed and determined to create a high-performing, connected, high quality network to enable the country to achieve its global ambition of becoming the broadband leader of the world,” Arderns said.
The Government is also planning to extend its super high-capacity fibre optic network to Auckland and its capital cities, starting with Auckland. “
We will be making the most of Tel Aviv’s global resources, while also investing in the future of the telecommunications industry and creating new jobs for New Kiwis.”
The Government is also planning to extend its super high-capacity fibre optic network to Auckland and its capital cities, starting with Auckland.
Prime Minister Tim White says the Government will invest in a New Zealand telecommunications company to build new high-performance fibre optic infrastructure in Auckland, with a view to connecting to New England in the years ahead.
(Reuters) Tel Aviv Communications’ CEO Michael Tofan was appointed in April by Ardernos government as a Ministerial advisor, following a previous stint as a minister in the Labor government.
Tofann said the Tel Aviv project was not only an important economic driver but also an important human rights development.
“I am incredibly excited to be part of this project and am looking forward to working with the Government on this project,” he said.
The project will be the largest investment by Tel Aviv in New Zealand.
“It’s a real game changer,” said Tofán.
“Tel Aviv Telecom will play an important role in supporting our efforts to support New Zealand in the 21st century.
The investment will be a catalyst for our industry and help us meet the world’s growing demand for high-bandwidth communications services.”
Tel Aviv also said it had signed a memorandum of understanding with New Zealand to build its superhigh-speed fibre optic networks to other parts of the country, which include Auckland, Wellington, Dunedin, Nelson, and Christchurch.
(Auckland City Council, Tofanan) The Tel.com company is also the only New Zealand-based telecommunications company in the world that provides superfast fiber optic broadband services.
It currently has fibre optic facilities covering around 300,000 homes.
In April, Tel Aviv launched its own fibre optic internet services to provide access to its network in Wellington, Auckland, Christchurch, Nelson and Dunedin.