Financial Close Achieved on Manitoba Fibre Project
August 6, 2021
The Canada Infrastructure Bank (CIB), Valley Fiber Ltd. (Valley Fiber) and DIF Capital Partners (DIF) have formalized their agreement to invest in the Manitoba Fibre project.
Under the terms of the agreement, the CIB will invest CAD 164 million in the approximately CAD 328 million project. Valley Fiber will be responsible for all aspects of construction, installation, operations and maintenance of the new broadband service.
Manitoba municipalities to receive broadband service
Portage la Prairie
West St. Paul
East St. Paul
Lac du Bonnet
- The project involves construction of 2,657 kilometres of mainline fibreoptic cabling, targeting 48,500 underserved households with dedicated fibre-to-the-home.
- The broadband service will offer speeds up to 1 gigabit per second, enhancing telecommunications services for residents, businesses and public service delivery.
- During the construction phase, up to 400 jobs will be created with an additional 50 permanent jobs within Valley Fiber.
- More information on Valley Fiber’s service can be found at www.connectmanitoba.com
- The CIB is mandated to invest CAD 35 billion and attract private sector investment into new revenue-generating infrastructure projects that are in the public interest and support Canadian economic growth.