FED: Govt to set up own broadband network building company

AAP General News (Australia)
04-07-2009
FED: Govt to set up own broadband network building company

Big news .. the federal government has announced it's setting up its own company to
build the national broadband network .. in partnership with the private sector.

Prime Minister KEVIN RUDD says none of the five bidders who tendered for the single
biggest infrastructure project in Australian history .. met the criteria.

It means Telstra could be back in the running to build the network .. with private
sector investment to be capped at 49 per cent.

Mr RUDD says broadband's the core of 21st century infrastructure .. and he's promising
speeds of up to 100 times faster than now .. for homes .. schools and workplaces.

The new company will invest 43 billion dollars in the network .. the government putting
in an initial 4.7 billion from the Building Australia Fund.

AAP RTV mb/rl/jmt

KEYWORD: BROADBAND (CANBERRA)

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