The project will create 6,000 new jobs

Virgin Media invests £3b in broadband project

Virgin Media is investing £3 billion to expand its broadband to four million homes.

The plan has been named ‘Project Lightning’ and is the single largest investment in broadband infrastructure in the country for more than a decade.

Over the next five years the company will extend its fibre-rich network, creating 6,000 new jobs in the process.

Tom Mockridge, CEO at Virgin Media, said: “Millions of homes and businesses will soon be able to benefit for the first time from broadband speeds at least twice as fast as those available from the other major providers.”

Parent company Liberty Global is supporting the project, which will see Virgin Media increase the number of homes and businesses it can offer services by almost a third; from around half of the country today to nearly 17 million premises by 2020.

Mike Fries, CEO at Liberty Global, added: ”After a record operating performance, Project Lightning is a significant investment that demonstrates the confidence we have in Virgin Media and the UK as a place to do business.”

SMBs and home workers will also receive a boost from better connectivity in areas where Virgin Media Business will become available for the first time.

This news comes after Virgin Media launched its own wearable band KipstR.

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