Netcity joins District 4 City Hall in the major modernization projects in Bucharest southern area
Netcity Telecom launches new works for expanding the underground telecommunications network in District 4 of Bucharest. Netcity network will expand by approximately 60 kilometers, in coordinated works with the extensive action of modernization and extension on major boulevards initiated by the District 4 City Hall in the southern part of the Capital. The areas where the actions will be coordinated are Olteniţei Road, Sergent Ion Iriceanu Street, Giurgiului Road and Berceni Road, being supplemented by additional works in adjacent areas and also on Vitan-Bârzeşti Road and Splaiul Unirii.
The coordination of Netcity development works with the modernization of the streets in District 4 ensures reduced discomfort for the city’s inhabitants and a higher execution speed.
“As we planned, we continue to expand our network’s footprint in District 4, to the benefit of the citizens. We are pleased to contribute to the success of the District 4 City Hall urban improvement projects and we appreciate the openness shown to us by the City Hall”, said Adrian Răcăşan, Chief Executive Officer, Netcity Telecom.
Netcity’s expansion plans for the next three years at the Capital level are in full swing.
In April 2018, the company signed an amendment and increase of its EUR 36 million club loan facility with a new facility of EUR 10 million with a syndicate of two banks – the Romanian Commercial Bank and BRD Groupe Societe Generale. Thus, Netcity Telecom estimates that by 2020 the private investment will exceed 70 million euros. The length of the network is expected to double, growing to over 1,800 km, and then to increase each year, depending on the needs of the city.
“We are delighted that we succeded in bringing Netcity Telecom on board to co-operate in this project, we are thus able to ensure the full modernization of the telecommunications infrastructure and further be able to provide access to quality services for our citizens through the metropolitan fiber optic network. Last but not least, this also helps us bring significant improvements to the urban aspect of our district, ” says District 4 Mayor, Daniel Băluţă.
About Netcity Telecom
Netcity Telecom was founded in 2007 and is the operator of the Bucharest metropolitan fiber optic network for telecommunications “Netcity”.
Netcity Telecom is part of Electrogrup Infrastructure S.A. (E-INFRA), a group of five companies active in the fields of energy and telecommunication infrastructure. Other companies in the group are Electrogrup SA, Direct One SA, Nova Power & Gas SRL and WESEE SRL