Portsmouth Fibre Funding
Portsmouth wins Â£4 million funding to bring in fibre broadband to the city.
21:07 19 March 2018
Portsmouth has been handed £4million funding from the Department of Digital, Culture, Media and Sport’s £150m Local Full Fibre Network Challenge Fund programme. Chancellor Philip Hammond announced that the money will be used to establish a high-speed network across the city with the hope to attract an extra £50million of private investment.
Councillor Donna Jones, Leader of Portsmouth City Council, said: “This is a real game changer for Portsmouth, establishing this network will put Portsmouth at the top of the list for businesses around the world who are looking for a UK location. We are doing this to create new jobs in the city, improve opportunities for residents and significantly boost Portsmouth’s economy.”
She added: “The money will allow the council to put a new full fibre network in place and that gives the potential for a provider to build on this to benefit businesses and residents. Soft market testing suggests we can expect companies to be prepared to invest in the region of £50m to expand the network.”
The project is expected to be completed in less than three years. The council is given to find a firm to build the network within six to nine months. The installation of the network is expected to take between 18 and 24 months.