Varadkar: We can either sign the contract this autumn and have 150k premises connected in every county within two years… or we can go back to square one and do none of that, telling rural Ireland it would have to wait longer
— Gavan Reilly (@gavreilly) May 14, 2019
The company set up to deliver the project will be called National Broadband Ireland (NBI). It will have to meet financial obligations under the plan of €2.4 billion, over 25 years.
In a statement, the company confirmed it was to spend an initial €220 million, and would “use these funds to get the project up and running”. The capital funding would go towards the design and build activities of the rural broadband network, and would be invested ahead of State subsidies coming on-stream, the company said.