Greece says to invest 2.1 bln euros to upgrade telecom network

0 Comments | AFP, September, 2008

ATHENS (AFP) — Greece wants to invest in a new fibre optic network that will drastically upgrade its broadband and cable television capabilities, the Greek economy and telecoms ministers said on Wednesday.

"We have decided to invest as a country in a modern fibre optic network that will change the daily life of Greek citizens," Economy Minister George Alogoskoufis told a news conference.

The seven-year project estimated to cost 2.1 billion euros (three billion dollars) will provide high-definition TV, video telephony, quicker Internet connections and other high-bandwidth services, Alogoskoufis said.

It will be developed through a public-private partnership and is eligible for funding from the European Investment Bank, he said.

An international tender...