WASHINGTON August 6, 2010- Lebanon’s Telecom Minister has announced plans to install a new nationwide fiber network. The project will cost $60 million and will include the installation of 710km of new phone wires and 2,750 km of fiber.
Minister Charbel Nahhas stated that by expanding the access to the internet the nation would be able to improve their economy. A World Bank study said that a 10 percent increase in penetration can generate a 1.35 percent increase in GDP.
Additionally tax revenue from the new network will be 140 billion Lebanese pounds ($93.32 million). “The tax revenue from the broadband service can cover the cost of the entire project in one year only,” Nahhas said.
The new network will consist of a number of smaller projects. One of projects will bring a network with 15Mps speeds to greater Beirut along with Tyre, Jounyeh and Byblos.