But not only public, but also private money flows into the expansion. The Austrian fiber optic infrastructure company (öGIG) with headquarters in Sankt Pölten is investing a broadband billion of a different kind. The subsidiary of Munich-based insurer Allianz, which was founded in 2019, will invest this sum in fiber optic expansion by 2025.
The money comes mainly from life insurance policies with very long terms, says öGIG Managing Director Hartwig Tauber. The fact that an insurer is interested in fast internet only seems unusual at first glance. “Insurance companies have long-term horizons. With fiber optic networks, the money is well invested for the next 30, 40, 50 years,” says Tauber in an interview with OÖ Nachrichten.
The company does not deal directly with end customers, but provides networks to Internet providers. The goals are ambitious: by 2030, the öGIG wants to supply one million households and businesses – “from the town center to the furthest corner”, as Tauber puts it. The focus is on rural areas. Austria has been pushing copper cable and mobile communications as technologies for years, but increasing digitization now requires more powerful networks.
When and where to build
Of the fiber optic billion, EUR 121 million is earmarked for Upper Austria. Four projects are currently running: in Mauerkirchen, Münzkirchen, Obernberg am Inn and Goldwörth. There are talks with 20 other communities in Upper Austria, says Tauber.
In order to start building fiber optic lines, the will of companies and households is required. 40 percent must give their commitment. According to the öGIG, regional companies are given preference for the construction itself.
Source: Nachrichten
