The financial close has been achieved for the Matoba Fibre PPP project in Canada. The Canada Infrastructure Bank (CIB), Valley Fiber Ltd. (Valley Fiber) and DIF Capital Partners (DIF) have formalized their agreement to invest in the Fibre project.

Under the terms of the agreement, the CIB will invest CAD164 million (USD130.99 million) in the approximately CAD328 million (USD261.75 million) project. CIB is mandated to invest CAD35 billion (USD27.95 billion) and attract private sector investment into new revenue-generating infrastructure projects that are in the public interest and support Canadian economic growth.

Valley Fiber will be responsible for all aspects of construction, installation, operations and maintenance of the new broadband service.

The project involves construction of 2,657 kilometers of mainline fibreoptic cabling, targeting 48,500 underserved households with dedicated fiber-to-the-home. The broadband service will offer speeds up to 1 gigabit per second, enhancing telecommunications services for residents, businesses and public service delivery. During the construction phase, up to 400 jobs will be created with an additional 50 permanent jobs within Valley Fiber.