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Chorus pauses 95% fibre goal due to lack of government funding, despite profit and progress.
Chorus, New Zealand’s main fibre provider, has paused its goal to extend fibre to 95% of households, citing unmet government funding as a key barrier.
Despite a $15 million half-year profit and strong cost controls, the company says expanding to rural areas remains unfeasible without public support.
It continues to grow its network, reaching 1.13 million connections and 72.4% serviceable address coverage, with a target of 80% by 2030.
The company reaffirmed its full-year earnings outlook and is exploring alternative strategies, including public-private partnerships and an affordability program, while abandoning its $3.4 billion Tasman Ring cable project.
Chorus pausa el objetivo del 95% de fibra debido a la falta de financiación gubernamental, a pesar de los beneficios y el progreso.