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Confidence new fibre optic cable will go ahead

12/03/2010 9:24:02

Pacific Fibre is confident its plan to bring unlimited high speed broadband to New Zealand will plug a shortage of projects for large investors.

The company wants to build a 13,000 kilometre fibre-optic cable, linking New Zealand, Australia and the United States. It will cost some $900 million.

Spokesman Rod Drury says there seems to be a shortage of large infrastructure projects which the likes of Kiwisaver and the Australian superannuation funds can put money into. He says they have already had talks with customers, banks, funding providers and the government about the plan.

Information and Communications Technology Group CEO Brett O'Riley says the venture is a landmark project. He says it would mean huge benefits for our businesses, as it would enable New Zealand to deliver digital content to the rest of the world.

Mr O'Riley says it would ensure there is no capacity or cost constraints for us to connect with the rest of the world.

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