NOW, Transco agree on use of fiber optic cable for national broadband program
Velarde-led NOW Corp. has entered into an agreement with the National Transmission Corp. on the possible use of the latter’s fiber and microwave assets for the rollout of a national broadband network.
“NOW is determined to build an independent nationwide backbone to cover the entire country and we are seriously looking on the viability of collaborating with TransCo to achieve this end. We now have a government committed to exhaust all means to solve the digital divide,” said NOW chairman Thomas Aquino.
Company president Mel Velarde said: “With a newly renewed 25-year franchise, the company would co-lead in the unfolding of the full transformation of the digital Filipino, in scale and in scope, the country has not seen before.”
Velarde has been upgrading its system to provider better and more reliable broadband service sin Metro Manila.
To fund its aggressive expansion and bolster its bid to become the country’s third telco operator, NOW is selling P1 billion worth of preferred shares.
Now’s fiber air service covers educational services, healthcare, hotels and restaurant industries and media. Its clients include The Manila Broadcasting Co., Philippine Daily Inquirer, Manila Bulletin, Marco Polo Ortigas, Manila Medical Center and Capitol Medical Center.