Forthnet and ZTE, further to the agreement signed between them in 2016 regarding the deployment of a fiber optic network in our country, have signed a Cooperation Agreement with Shanghai Gongbao Business Consulting Co. Ltd and KaiXinRong Group Co. Ltd for exploring a business partnership for the financing of this fiber optic network.
With the Cooperation Agreement, Shanghai Gongbao Business Consulting Co. Ltd and KaiXinRong Group Co. Ltd envisage the possibility to invest up to 500 million euros, over the next 7 years for the deployment of a new telecommunication access network in Greece based on fiber optic technology that will provide Gigabit connection. The bulk of the investment shall be carried out the first three years when it is expected that there will be a subsidy of the demand, for fiber optic connections by EU resources, managed by the Greek government.
The Cooperation Agreement was signed on Saturday 13 of May 2017, during the visit of Prime Minister of Greece, Mr. Alexis Tsipras, to Beijing for the “Belt and Road Forum for International Cooperation, between Mr. Panos Papadopoulos, Forthnet CEO, Mr. Deng Chao, ZTE Hellas CEO, Ms. Wang Huanxin, Shanghai Gongbao Business Consulting Co. Ltd President and Mr. Zhao Feilong, KaiXinRong Group Co. Ltd CEO and in the presence of Prime Minister of Greece, Mr. Alexis Tsipras, the Minister of Digital Policy, Telecommunication and Information, Mr. Nikos Pappas and the Ambassador of People’s Republic of China in Greece, Mr. Zou Xiaoli.
The post Forthnet and ZTE sign cooperation agreement for fiber optic network in Greece appeared first on Cyprus Mail.