Meridiam is developing a $230m (€212m) fibre-optic network in the southeastern region of the US.
The infrastructure fund manager said it intends to finance and manage Omnipoint, a project that will provide broadband to 53,000 households and businesses across more than 300 miles in Selma, Alabama.
Meridiam-owned fibre-to-the-premises network developer Yellowhammer Networks will develop the project.
This project is part of a series of Meridiam-led investments, totalling more than $2.7bn, into digital infrastructure that will connect over 1.3m homes, many in rural and underserved areas, Meridiam said.
Nicolas Rubio, CEO of Meridiam Americas, said: “Meridiam is dedicated to filling critical fibre infrastructure gaps and helping eliminate the divide that excludes millions of people from our digital society and compromises economic growth for all.
“Yellowhammer Networks is determined to make high-speed fibre broadband accessible to residents throughout Selma and the region regardless of their income levels.”
James Perkins, the mayor of Selma, said: “High-speed reliable broadband is no longer nice to have. Today, it’s as important as gas, water, and electricity. In our increasingly digital society, cities without access to fibre broadband risk falling behind.”
“It’s critical that the City of Selma makes fibre broadband accessible citywide by building utility-like infrastructure that serves our residents’ needs today and for generations to come.”
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