ESB has signed an agreement with one of the leading mobile communications providers to invest €450m in building a 100% fibre-to-the-building broadband network.

The joint venture, between ESB and Vodafone, will offer speeds from 200 Mbps to 1,000 Mbps, propelling Ireland into the ranks of the world's fastest broadband countries.

Ireland will also become the first country in Europe to use existing electricity infrastructure on a nationwide basis to deploy fibre directly into homes and businesses, initially reaching 500,000 premises in 50 towns. The fibre will be deployed on ESB's existing overhead and underground infrastructure, ensuring a fast and cost efficient roll-out to every county in Ireland and reversing the digital divide between the capital and regional towns.

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Subject to European Commission approval, the 50:50 joint venture will begin rolling-out the new network across Ireland in the coming months, with the first customers able to avail of 100% fibre broadband from the start of 2015.

The initial phase of the project is expected to be fully rolled-out by the end of 2018, with scope for a second phase under the joint venture.

Pat O'Doherty, Chief Executive of ESB, said: "This innovative ESB-led initiative is a major milestone for Ireland as the fibre broadband network will be a key enabler for a knowledge-based, services-led economy that will help to attract investment to Ireland.

"This fibre infrastructure will use ESB's existing electricity infrastructure, maximising the use of state assets to the benefit of Irish society. Over the last ten years ESB has invested over €6 billion in its electricity network infrastructure nationally, ensuring it is one of the most robust and modern electricity networks in the world thus enabling the delivery of this new fibre broadband network.

"From the rural electrification of Ireland, to the development of the smart grid and our telecoms expertise, ESB will continue to pioneer strategic, infrastructure developments that positively impact the economy and offer new competitive services to our customers."

(CD/JP)