New Zealand's ambitious Ultra-Fast Broadband (UFB) project on Thursday announced the network now passes over 76,000 premises, 6,000 more than it originally projected for its first year.
Thus far, over 1,200 customers have subscribed to the service.
Amy Adams, New Zealand's ICT minister issued a report that showed that during the first year of the country's 69,000 rural homes and businesses have access to better broadband service.
Chorus, the former wholesale arm of Telecom New Zealand (NYSE: NZT) and one of the contractors participating in the build-out of the UFB network, said that its network passes 57,000 premises as of the end of June. In addition to Chorus, participants in the UFB include Enable, WEL Networks and Northpower Limited.
The UFB, of course, has not been without its share of controversy. Earlier this year, the Telecommunications Carriers Forum (TCF), which represents a number of the country's service providers, including Telecom New Zealand (NYSE: NZT), argued that Crown Fibre Holdings (CFH) was actually causing delays.
For more:
- The Wall Street Journal has this article
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