United Group’s plan to implement investments of 2 billion euros in Greece by 2027 for the upgrade of new technology telecommunications infrastructure was presented to the Greek Prime Minister Kyriakos Mitsotakis by representatives of the group, during a meeting held this morning at the Maximos Mansion.

2022 is a record year for foreign investments

“I believe that your decision proves the confidence that both domestic and international investors have in the prospects of Greece. And, of course, I believe that the excellent work that has been done by the Ministry of Digital Governance as well as the available funds of the Recovery and Resilience Fund support this kind of investment,” Kyriakos Mitsotakis said at the beginning of the meeting, noting that “2022 will be a record year in terms of attracting foreign investment to Greece.”

United Group’s investment plan envisages the installation of a 10 Gigabit fibre optic network covering 4.5 million individuals and businesses.

The aim is the overall upgrade of our digital infrastructure

“For us, the digital transformation of the Greek economy and society is a bet that we intend not just to win, but to give Greece the opportunity to make a leap forward,” the Greek Prime Minister said. “I think that Greek citizens already recognize that the changes in the digital services sector are very important. And, at the same time, we have an extremely ambitious plan, which is partly funded by the Recovery Fund in combination with leveraging private resources: to be able to upgrade our digital infrastructure as a whole.”

“Let me again express my satisfaction for this very important investment, which you are announcing today through Nova, in the digital upgrade of the country,” the Greek Prime Minister stressed. “It will allow us to quickly bridge an important gap which we have long pointed out, as well as to provide very high speeds at affordable prices to millions of Greek households and, of course, to stimulate even more competition in the Greek market,” he added.

“With this investment that you are announcing today, you give us the confidence and certainty that this plan, this vision that we have, we share it with important investment funds that also want to participate in the added value that is created in the country as a whole,” added Kyriakos Mitsotakis.

The statements

“The truth is that today we are making a very important investment, an investment of 2 billion euros, in the development of fibre optics, which – we think – will promote the prospects of the country, but even more – I would say – the economic prosperity and social well-being of Greece”, said Mr Nikos Stathopoulos, President of BC Partners in Europe.

“From the first day we came to Greece, we made it clear that, through our investment, we are looking for a long-lasting a relationship,” noted United Group’s CEO, Victoriya Boklag. “We are pleased to announce that we will invest an additional 2 billion over the next five years. A large part of this investment will be directed towards building Nova’s state-of-the-art fibre infrastructure.”

“For us, this investment is a vote of confidence in Greece and it is also a vote of confidence in its technological capabilities,” said Minister of State and Digital Governance, Mr Kyriakos Pierrakakis. “We are about 25th in the world in mobile telephony, but about 92nd in fixed telephony. That’s exactly why your investment today is truly important as it indicates that we are ready to make a big transition. It is another step towards the digitisation of the state and the economy and it is another part of the strategy that the Prime Minister has set out,” Kyriakos Pierrakakis continued.

The meeting was also attended by the Deputy Prime Minister, Mr Ioannis Bratakos and the chief economic adviser to Greece’s Prime Minister, Mr Alexis Patelis. Moreove, the CEO of Nova, Mr Panayotis Georgiopoulos, was also present at the meeting.

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