Gigaclear Shortlisted for Scottish Project
Gigaclear shortlisted for Scotland’s £600 million Reaching 100per cent (R100) project.
19:38 08 September 2018
Gigaclear, a UK fibre network provider, is ready to move beyond England after it has been shortlisted for Scotland’s £600 million Reaching 100per cent (R100) project, which aims to deliver 30Mbps+ broadband to all users by the end of 2021. Interim CEO Mike Surrey said he believes that “market forces driven by competition” will deliver the best outcome for the market.
With the Infracapital deal, Gigaclear was able to raise GBP 184million with a further commitment of GBP 150million from Infracapital and Railpen. The funding is expected to support efforts to cover 350,000 premises by the end of 2021.
Gigaclear’s Surrey added that they are “confident that we now have the delivery methods and processes to allow us to grow reliably outside of our ‘home’ territory.”
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