Netcity Telecom forecasts private investments growth by over EUR 30 mln until 2020

Netcity Telecom, the operator of the underground network of optic fiber of Bucharest Municipality, together with the Bucharest Mayor Office aim that the works at the urban network financed by Netcity through European funds, to continue in a sustained trend in 2017 and the following years. Netcity forecasts private investments growth by over EUR 30 million until 2020, exceeding from that moment EUR 70 million.

Thus, the length of the network in the following three years will double to over 1800 km, continuing to grow year by year, according to Bucharest necessities.

The representatives of Bucharest Mayor Office and Netcity Telecom agreed at the beginning of this summer upon the necessity of network expansion by close to 150 km of network in 2017, prioritizing the area with high risks of accidents due to the bad situation of aerial cables of telecommunications.

Netcity started the works since July for new sections of network, and the developing works will continue in October, respectively November. To the 350 km of network expansion already developed in 2017 will be added other 400 km of network for which the technology projection stage and is estimated to be finished in March 2018.

Netcity estimates that the investments until 2020 will lead to revenues double to over EUR 2 million/year from the royalty payed by Netcity to the Bucharest Mayor Office’ budget.