Field Solutions snaps up more 5G space as push for the bush gains traction
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Telephony company Field Solutions Holdings (ASX:FSG) announced yesterday it has secured 5G spectrum holdings in preparation for a 5G rollout across rural Australia.
The company said that it has obtained an allocation of 5G millimetre wave spectrum of 26Ghz, which covers 85% of Australia’s landmass.
FSG CEO, Andrew Roberts, said that the spectrum will allow the company to deliver super-fast fixed wireless services to 100% of its target customers across rural, regional and remote Australia.
“FSG, has secured 5G spectrum holdings to ensure that rural, regional and remote Australia is not left behind in the rollout of 5G services,” outlines Roberts. “We needed to secure this spectrum to ensure we can deploy superfast services within our target markets.”
The company said that increasing demand for bandwidth from rural areas has been driven by increasing demand from the agricultural sector, as well as changes in working patterns across the country caused by the COVID-19 pandemic.
FSG reiterated its long term commitment to building a 5G network in the bush – with networks already operating or being constructed in the rural areas of New South Wales, Queensland, Tasmania, Victoria, Northern Territory, and more recently, Western Australia.
The company said that it will commence the rollout in the next six months and by the end of 2021, expects its overall network to cover over 90,000 sqkm.
Two weeks ago, Field Solutions advised that it has been awarded a $2.1 million grant from the Western Australian government aimed at improving the agricultural sector by linking the NBN infrastructure in the rural areas of the State.
The company said it would be using the funds towards building its infrastructure in the State, and expected $27 million in revenues to be generated from this project over a 10-year period.
After yesterday’s announcement, the company’s share price rose by more than 7%, and has gained 250% over the last 12 months.