Construction to begin on $80m Texas fibre network
Texas and Louisiana service provider, Vexus Fiber is to build a FTTH network in Laredo, Texas, introducing more than 70,000 properties to multi-gigabit speed service.
The network will be privately funded by Vexus, which plans to begin construction in the summer of next year, with availability to some neighborhoods and businesses by the end of 2022. Full completion of the entire network throughout all of Laredo will take approximately 24 months.
The network extension is part of an ongoing construction plan financed by existing investors, Pamlico Capital and Oak Hill Capital, which have agreed to invest additional equity toward the expansion in Laredo.
The company currently operates FTTH networks in Lubbock, Amarillo, Wichita Falls, Abilene, and surrounding areas in Texas, as well as Hammond, Covington and Mandeville in Louisiana. The company is also building new networks in the Rio Grande Valley, Tyler, Nacogdoches, and San Angelo, Texas. They are also expanding in Lake Charles, Louisiana as well as Albuquerque and Santa Fe, New Mexico. V
Jim Gleason, CEO at Vexus explained: ‘We are excited to continue our network expansion in Texas with our new 100 per cent fibre optic network plans in Laredo. Vexus’ fibre network will provide homes and businesses with a new, competitive choice for internet and entertainment. This expansion brings reliable internet to families and businesses in the area, allowing them access to our future-proof fiber technology.’
Pete Saenz, Mayor for the region added: ‘Improving connectivity and increasing access to broadband are vital building blocks for Laredo’s resiliency and economic prosperity moving forward. I applaud Vexus for choosing to make a major investment in Laredo, for helping bring competition to the market and providing a new modern platform that will help students, businesses and the community at large. It’s very much needed in our community.’
Art Roselle of Pamlico Capital concluded: ‘The opportunity to grow with Vexus and new communities in Texas is very rewarding. We are extremely pleased with the progress the team at Vexus Fiber is delivering by building a quality fiber network at a fast pace to residents and businesses that need this network of the future.’