Background

Meridiam has closed the Project Agreement for the development of a fibre network of up to 58,264 homes in the region of Liezen, Austria. The region of Liezen comprises 29 local communities with a total population of c. 80.000. To secure the Project Meridiam leveraged existing fibre project in Montabaur, Germany and has an ambitious strategy to invest in projects that help tackle the digital divide.

Meridiam will take a 90% shareholding in the Project Company (RML Infrastruktur GmbH), that has already been founded by the public regional management company (RML), to build and operate the Fibre to the Home/Building (FTTH/B) network. RML will retain a 10% shareholding.

In the first year (2022), the Project Company will optimise the design, apply for subsidies, negotiate the final operation and framework construction agreements and start pre-marketing activities. Construction will commence in 2023 and will last three years.

Meridiam intends to partner with Energie Steiermark as the preferred active network operator. Energie Steiermark is the regional energy provider and already has 11 Internet Service Providers on its operating platform.

Stage: Commercial Close

ESG/SDG Key Facts

Austria is lagging behind much of Europe in fibre coverage – according to EU DESI report in 2020 Austria is ranked N° 26 in the EU. The 29 communities of Liezen have already shown strong support for the Project.

SDG 08 (Decent Work and Economic Growth): The Project will make Liezen more attractive for new business, will accommodate increasing home office trends and reduce the need to make long commutes to the cities of Linz and Graz. Meridiam has focused on a regional strategy and is intending on partnering with Energie Steiermark, the regional energy and fiber provider, as active network operator. Aside from providing faster internet, the Project will therefore create productive employment and direct value for the communities.

SGD 09 (Industry, Innovation and Infrastructure): The Project will support local industries and communities by offering faster and higher quality internet using latest technology. The network will also be connected to public facilities necessary for social cohesion, including schools and hospitals.