Why a company that invests in the NBN should be worried about NBN Co’s plans
Posted November 14, 2019 11:51:38The Australian Government’s $1.9 billion NBN is expected to be rolled out over the next two years.
The Government has already announced that the NBN will be funded with the proceeds from its carbon levy.
However, it is expected that NBN Co will be spending $1 billion on the NBN over the same period.
In an interview with The ABC’s AM program, NBN Co chief executive David Thodey said the company will be investing heavily in the rollout.
He said it would be a “massive investment”.
“The plan is to do a total investment of $1billion,” Mr Thodeo said.
“We are going to be investing a large amount of money into this plan and we have the confidence that the investment will be successful.”NBN Co is spending $300 million to $400 million over the two years to upgrade its network.
Mr Thode, however, did not say how much NBN Co was spending on the upgrade and whether that money would be used to fund the NBN Co expansion plan.
Mr Thodes company is already planning to spend up to $200 million over three years on the network upgrade, which will cost $6 billion.NBN has already started building fibre optic cable for the project.
The Government’s carbon levy will be repealed in the next term.
Topics:electronics-and-electronics products,technology,communications,nbn,national-security,government-and.government-areas,technology-and,nsw,australiaFirst posted November 13, 2019 12:42:38More stories from Australia