March 29, 2018 / 4:32 PM / 2 years ago

ANNOUNCEMENT-OTE to invest 2 bln eur on fiber optics until 2022

OTE Group will provide 1 million households and businesses with access to “Fiber to the Home– FTTH” network until 2022. OTE Group’s FTTH investment plan will also cover points of significant social value, such as educational institutes, transportation hubs, business parks and public buildings.

OTE Group’s investment plan on FTTH for internet speeds of up to 1Gbps to 25% of the country’s fixed lines, was announced to the Prime Minister, Alexis Tsipras and Minister of Digital Policy, Telecommunications and Media, Nikos Pappas, by Deutsche Telekom Group CEO Tim Höttges, the head of Deutsche Telekom in Europe Srini Gopalan and OTE Group Chairman and CEO Michael Tsamaz during a meeting at the Maximos Mansion. OTE Group repeated its commitment to invest robustly for the development of 5th generation mobile networks (5G), as a prerequisite for the Gigabit Society. Total OTE Group investments in Greece, mainly for infrastructure and new generation networks, will reach up to €2 bn until 2022.

After the meeting with the Prime Minister, Mr. Höttges stated: “Deutsche Telekom’s investment in Greece is of strategic importance. We are long term investors and we support the digital transformation of the country on the way to the Gigabit Society. We are proud of what OTE Group’s management has achieved over the last years. OTE Group has invested heavily to build the best mobile network in the country. Now we have decided to invest more for FTTH deployment, since Gigabit Society needs fiber everywhere. Together, we will contribute to Europe’s faster transition to the new digital era.”

OTE Group Chairman and CEO, Mr Michael Tsamaz, stated: “We are the company of fiber optics in Greece. We are implementing the largest telecommunication infrastructure upgrade project of the last decades by installing fiber optics all over the country. For years now, we have been investing in fiber optic networks to support the country’s digital growth and to meet EU broadband targets. We will continue to do so, bringing fiber optics to 1 million households. Our aim is to create a better world for all.” The company of fiber optics OTE Group is the largest investor in new technologies and infrastructure in Greece, having invested over €2bn over the past six years. It has the largest fiber optic network in Greece. COSMOTE Fiber, with 43,000 km length, enables more than 2.7 million households and businesses to enjoy internet speeds of up to 200Mbps as well as advanced broadband services. OTE Group has also installed a 12,000-kilometer fiber optic network in the framework of the Rural Broadband project. Fiber to the Home is a strategic goal and an integral part of OTE Group’s technological plans.

In mobile telephony, OTE Group breaks new ground by constantly developing its networks. Today, it is by far the No1 in Greece in population coverage with its 4G and 4G+ networks reaching 98% and 92% respectively. OTE Group contributes to the new 5G infrastructure and services design and development, through its active involvement in 11 European research projects. It was the first to carry out a 5G network live demo in Greece, presenting its potential to the Greek public.

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