Release date: 12 February 2020
Promoter – Financial Intermediary
EPIC LTDLocation
Description
The project relates to the rollout of a fixed Very High Capacity (VHC) broadband access network in Cyprus, based on fibre-to-the-home (FTTH) technology. With this project, the promoter plans to cover residential living units, located both in densely populated areas and in less densely populated areas, and will cover a significant part of the households in the country. The project includes the rollout of the fibre network, including the related investments in the backbone network and IT systems.
Objectives
The project will result in increasing the capacity, and therefore the speed and quality of service of the promoter's fixed broadband network in the country.
Sector(s)
- Telecom - Information and communication
Proposed EIB finance (Approximate amount)
EUR 19 million
Total cost (Approximate amount)
EUR 33 million
Environmental aspects
Investments in fixed telecommunications projects (mainly civil works for fibre rollout) do not fall under the EIA Directive 2011/92/EC as amended. The related works have limited environmental effects, apart from disturbances during civil work constructions, which can be mitigated by appropriate measures.
Procurement
The promoter has been assessed by the Bank as being a private company not operating in the utilities sector and not having a status of a contracting entity, thus not being subject to EU rules on public procurement.
Status
Signed - 21/12/2020
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).