YEREVAN. – A fiber optic telecommunication network with a speed of 10 megabits will be created throughout Armenia by Ericsson, advisor to Armenia’s economy minister Vahe Danielyan told Armenian News-NEWS.am-Innovations.

“We have made a call for partnership and Ericsson, Cisco and Alcatel responded. The first was chosen,” he said.

The company will present its business model to the Public Services Regulatory Commission and will start working after getting relevant license.

“Ericsson plans to create a high-speed network in two years and plans to invest $70 million,” Danielyan said.

According to him, the company will be present only on wholesale Internet market and should not go to the retail market. Danielyan stressed that government will assist the program.

“$7 million out of $24 million World Bank’s ‘E-Society and Innovation for Competitiveness’ program will be allocated specifically for this project,” he added. 

Project’s goal is to make internet access available throughout the territory of Armenia. New network will provide high-speed internet to all cities, towns, and villages of Armenia.