Lithuania’s TEO announces fiber to the business investments

TEO LT AB of Lithuania says it plans to invest more than LTL 15 million ($5.8 million) in the next-generation fiber-optic access in business centers and office buildings by the end of 2012. TEO says the investment will make its Internet technologies available to almost 80 percent of the country’s businesses and organizations that have their offices in office buildings.

TEO will also use the new infrastructure to support cloud computing services.

It is planned that by the end of 2012, TEO fiber-optic access will be installed in more than 1000 buildings. This year, the fiber-optic network is most actively developed in Vilnius, Kaunas and Šiauliai. In these cities alone, by the end of December, TEO fiber-optic access will be installed in more than 200 office buildings.

In 2011, the overall investments of TEO in the FTTH network, which is being expanded in 50 cities in Lithuania, will reach more than LTL 70 million ($6.58 million), while the total amount of investments planned by the company next year will be over LTL 150 million ($58 million).

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