Epic’s €20 Million Modernisation Programme Will See 5G Network Rolled Out Across Malta By 2024
Telecoms company Epic have secured €20 million in European Investment Bank funding set to help aid them in their continued modernisation programme.
The €20 million will support the rollout of their national 5G network by 2024 as well as Fibre-to-the-Home (FTTH) infrastructure by continuing to install its high-capacity broadband access network in selected areas in Malta.
“This is an important moment not just for Epic but for everyone in Malta as we are building the strongest network with next generation connectivity,” he said. “Our vision is aligned with EIB and the Government of Malta in bringing digital access to every person, home and organisation for a fully connected world,” Epic CEO Tamas Banyai said.
“The telecom sector requires significant investments to foster the digital acceleration. Thanks to the EIB support, EPIC Communications Limited will expand both the 5G network to reach 99% coverage in the country and the Fibre-to- the-Home connections to cover one-fourth of the households in Malta,” Gelsomina Vigliotti, EIB Vice-President, said.
In the last five years, the EIB has supported telecom and broadband networks worldwide with €11.7 billion worth of financing investment.
Epic said the €20 million will “bring significant benefits to Malta and its inhabitants and regional development, as these broadband connections are needed to be able to reap the full benefits of digitalising economic sectors, such as agriculture, tourism, and commerce.”
“It will also address the development of the core network that will allow Epic to cater to the expected increase in traffic demand and build a more future- proof and effective fibre network to support its mobile network,” it continued.
The funding is aligned with the cohesion strategy of the EIB and Malta’s Smart Specialisation Strategy 2021 – 2027, specifically given the important role that digital infrastructures have within any country and the critical transformation of digitalisation to promote innovation activities in Malta.
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