CityFibre has unveiled a new £2.5 billion investment that will be used to greatly expand its full fibre broadband network, with the aim of bringing high-speed services to some five million homes and businesses.
This would account for a third of the government's target of connecting 15 million properties with full fibre broadband by 2025, while the provider has identified 37 towns and cities across the UK that already have the critical fibre platform needed to support the technology.
Greg Mesch, Chief Executive at Cityfibre, said: "With a head-start in 37 towns and cities, this full fibre investment plan enables us to further accelerate our rollout, catalysing huge economic growth in regional towns and cities across the country and transforming the UK’s digital future."
He added that the rollout will create an innovative wholesale network that will offer internet providers and mobile network operators with "greater choice and unrivalled technical capabilities, benefitting all sectors of the market".
CityFibre stated that the development of a full fibre network will help boost growth around the country, helping contribute an additional £85 billion in associated economic benefits and creating 5,000 construction jobs.
In addition to the 37 areas already identified by the company as key starting points, CityFibre expects to continue announcing new construction contracts around the country for several years to come.
Vodafone has become the first consumer broadband supplier to use CityFibre's network, and fibre-to-the-home projects are already underway in Milton Keynes, Peterborough and Aberdeen, with work set to begin in four mores towns and cities before the end of 2018.
The investment was also welcomed by the government, Secretary of State for Digital, with Culture, Media and Sport Jeremy Wright saying: "I’m delighted that CityFibre’s investment in 37 towns and cities across the UK will ensure the vast majority of homes and businesses in those areas can access this technology through new fibre networks."
He added: "Significant investment from new network operators is critical to deliver our ambition for nationwide coverage."