The €220 million will be the 'initial capital required to commence Design and Build activities'
However, National Broadband Ireland says it will be required to meet financial obligations of €2.4 billion in the delivery of the network over 25 years.
Today's statement comes ahead of Minister for Communications, Richard Bruton's appearance before the Oireachtas Communications committee later this afternoon. As it is finalising contracts with over 40 contractors, the company said it is not appropriate for commercially sensitive information to be disclosed that could prejudice these negotiations, it said.
The State contribution to the total cost of is a maximum of €2.6bn. The Minister said the private firm is responsible for providing the remaining €2.4bn of cost. When questioned about the project's ownership in the long run, Minister Bruton said that if the State owned the project, it would have to pay for the upkeep.
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