£10m Investment For Colchester Council
Swedish operator VX Fibre set to invest £10million in Colchester’s online infrastructure.
04:14 15 February 2020
Scandinavian broadband giant VX Fibre is going to invest £10million in Colchester’s online infrastructure in a bid to boost the town’s economy by tens of millions of pounds. The move followed the £3.45million funding from the Department for Culture, Media, Sports and Digital as part of the Government’s Local Full Fibre Network Fund.
VX Fibre has teamed up with Colchester Amphora Trading, Colchester’s Council commercial arm, to access part of the council’s housing estate and improve facilities.
Cabinet members have welcomed the scheme. Housing boss Adam Fox said: “Because of the decision taken some time ago by the council to retain control of our housing stock we are now able to secure this additional investment from Housing Revenue Account and housing stock we own,”
Resources boss David King added: “It signals Colchester is a destination for ambitious companies seeking to make change which benefits them as well as benefits our residents.
“This kind of investment is cutting edge, it helps start ups to grow and helps entice digitally aware businesses into the borough.”