FutureFive NZ - Chorus puts figure on 'massive' capex plans

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Chorus puts figure on 'massive' capex plans

Chorus has issued guidance on its capital expenditure over the next two years, announcing plans to spend just shy of $1 billion in the next 19 months.

The company’s spend for the remaining seven months of the 2012 financial year will be between $335 million and $355 million, while the spend in 2013 will be between $560 million and $610 million, Chorus announced in guidance this morning.

CFO Andrew Carroll says around 80% of the company’s capex during this period will be on fibre.

"These are massive programmes of investment in New Zealand’s network capability,” Carroll says.

CEO Mark Ratcliffe adds that with short-term goals such as the separation from Telecom out of the way, the company is now shifting its focus to longer-term goals.

"We are working closely with our customers to help them transition to a fibre world,” Ratcliffe says, "while also building our fibre network and operating our copper network more efficiently.

"The amount being invested underlines the need for certainty, so the industry can deliver compelling services to enable New Zealanders to benefit from fibre.”

Invercargill is the most recent city to start its fibre build, with Chorus beginning work there last week.

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