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Thursday, 16 June 2022 11:31

Telecom Italia secures $1 billion government funding for biggest 5G project

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Telecom Italia secures $1 billion government funding for biggest 5G project

Telecommunications provider Telecom Italia has secured €725 million ($1 billion) worth of government contracts for the deployment of 5G networks, Italy's ministry for technological innovation and digital transition announced on Monday.

The financing coincides as earlier this year, the EU Commission approved a two billion-euro Italian scheme to support the rollout of 5G mobile networks through the Recovery and Resilience Plan (PNRR), according to Reuters.

The government tender includes six geographical lots. It will fund 90% of the total cost of works. The ministry also added that other operators would get wholesale access to the financed infrastructure.

Light Reading reports that the six geographical lots comprises a number of areas that have been traditionally underserved.

The largest share of Telecom Italia's grant worth €135 million ($213 million) was allocated to the lot covering Abruzzo, Molise, Campania, Basilicata, and Puglia.

It added that the 5G fibre backhaul links will connect more than 11,000 base stations by 30 June 2026.

This first appeared in the subscription newsletter CommsWire on 15 June 2022.

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Published in Business Telecoms
Kenn Anthony Mendoza

Kenn Anthony Mendoza is the newest member of the iTWire team. Kenn is also a contributing writer for South China Morning Post Style, and has written stories on Korean entertainment, Asian and European royalty, Millionaires and Billionaires, and LGBTQIA+ issues. He has been published in Philippine newspapers, magazines, and online sites: Tatler Philippines, Manila Bulletin, CNN Philippines Life, Philippine Star, Manila Times, and The Daily Tribune. Kenn now covers all aspects of technology news for iTWire.com.

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