Allianz Capital Partners is investing around a billion euros in fibre-optic network rollout in Austria.
The investment firm, on behalf of Allianz insurance companies and the Allianz European Infrastructure Fund, has entered into an agreement with Oesterreichische Glasfaser-Infrastrukturgesellschaft (öGIG) for the financing of the fibre-to-the-home project.
Christoph Holzer, co-head of infrastructure Munich at Allianz Capital Partners, said the €1bn equity capital provided by Allianz which allow for a total investment volume of €2.5bn will make a significant contribution to the digital future of many regions in Austria.
Allianz will provide the capital for the deployment of fibre in Austria in order to be able to connect through öGIG up to one million households to the fibre optic network by 2030.
Michael Pfennig, co-head of infrastructure at Allianz Capital Partners, said: “The Corona pandemic has once again confirmed the importance of fibre. As one of the largest infrastructure investors worldwide, we are delighted to be able to make an important contribution to the digitization in Austria with the long-term pension and insurance capital of our customers and further investors.”
öGIG is part of Allianz Group and has been operating as a telecommunications infrastructure company in Austria since 2019.
In addition to Austria, Allianz is already invested in the roll-out of fibre networks in several countries, including Germany and France.
To read the digital edition of the latest IPE Real Assets magazine click here.