Meridiam and E-INFRA, through Direct One SA, have entered a partnership through Netcity Telecom (Netcity), which develops and operates the Romanian capital’s underground fibre optics and ducts telecommunications network. Netcity’s activities include designing, building, and operating the duct network for the entire Bucharest area, thus improving the visual appearance of the city and safety through the migration of the aerial cable networks underground.
Through this partnership, Meridiam acquired a co-controlling stake and the parties agree to accelerate development of Netcity’s network in Bucharest. The joining of two experts in the field of digital infrastructure will maximize the potential for the development and management of a modern infrastructure, at the highest standards.
Matthieu Muzumdar, Meridiam Chief Operating Officer Europe, said: “We are excited about this innovative partnership, which is also our very first investment in Romania. This project will enable to attract investments in the global digital industry in Bucharest and ensure the development of city-based solutions to increase the quality of life in the Capital City.”
”The telecommunications infrastructure sector is evolving rapidly, and we need to be at the forefront of this transformation. We are confident that the partnership with Meridiam will bring major benefits to the Netcity project and of course in the Romanian capital. The trust is reflected in the size and potential of our current and future projects”, stated Teofil Mureșan, E-INFRA Chairman and CEO.
“Our focus in the partnership with Meridiam will be on expanding the underground telecommunications infrastructure, being fully aware of the environmental & social impact of the underground migration of telecommunications cables, as well as the importance of providing fast and stable broadband services,” added Adrian Răcășan, Netcity Telecom CEO.
These changes aim at contributing to the United Nations Sustainable Development Goals (UNSDGs) and bring positive impacts on:
- residents, through safer and improved digital connectivity (SDG #8), flexible access, high availability, and quality of the telecommunication services,
- the municipality, with additional revenue to the local budget, a modern and resilient urban infrastructure (SDG #9), and increased control over the infrastructure support for telecommunications
- local telecommunications industry players, improving network robustness and safety (SDG #11), bringing optimal coverage and fast support, and ensuring that this infrastructure best meets the needs of the municipality.
The metropolitan infrastructure developed by Netcity is equally, transparently, and indiscriminately available to all companies and telecom operators that activate or want to provide services in the territory of Bucharest. Today, Netcity’s underground network of over 1,760 km covers the main boulevards in Bucharest and connects over 30.000 buildings in the city. The network is under continuous development with the goal of reaching extensive coverage of Bucharest metropolitan area in the coming years