Netomnia, along with ISP sister company YouFibre has completed an additional fundraise of £147.5m in its accordion facility welcoming three new lenders: Barclays, Alpha Bank and Nord/LB.
Fri, 9/09/2022 - 10:09
KCOM has unveiled plans to invest £100m across Hull, East Yorkshire and Lincolnshire, targeting expansion, upgrade and inclusion.
The investment includes £62m to expand its network to 50,000 more premises in 14 towns and villages; £10m to upgrade 14,000 properties in East Yorkshire currently without fibre, £17m to replace copper phone lines in Hull and a £10m long-term upgrade of the existing fibre network to enable download speeds of 10Gbps.
KCOM will expand to communities including Flamborough in East Yorkshire, Hunmanby, Stamford Bridge and Cayton in North Yorkshire and Caistor and Mablethorpe in Lincolnshire, as part of the next phase, taking its overall footprint to 350,000 properties.
“This £100m investment is a statement of confidence in our business, our region and our future as we make our region one of the best connected in the UK and beyond,” said KCOM CEO Tim Shaw.
“This investment will be a major boost to the local economy creating dozens of skilled jobs and enhancing local supply chains.”
The expansion will creation of up to 50 new local engineering jobs to help build the network.
KCOM is also announcing its Full Fibre for Everyone scheme which will invest £500,000 in digital inclusion schemes and events across the region over three years.
These include digital training sessions in schools and community centres, installing open access Wi-Fi in public buildings and investing in local infrastructure
KCOM Retail MD Neil Bartholomew, said: “This scheme will make sure that no one is left behind in our digital age with a variety of exciting projects and events and it’s fitting that the legacy of the old copper technology can now be re-invested in creating the future opportunities for everyone.”
