At the time when India had only 2.5 Mbps average internet, ISP (Internet Service Provider) in Bangalore announced Act Fibernet on Thursday which can offer 1 Gbps wired broadband internet services in the City of pearls (Hyderabad) as the India’s first Giga City.
The company has been working for more than a year to launch this service in the city of pearls and had invested around hundred crores to roll out this technology in the city. The plan is said to be charged at Rs 5,999 per month. This service was launched by K T Rama Roa, Telangana IT minister. He said that this high-speed internet service was his vision and also added that he expects that the product will help him further to fulfill the vision of making it a digitally advanced hub.
Bala Malladi, ACT Fibernet CEO said that they are very confident about the product and they are targeting to connect more than twenty-three million residents through this high – speed internet by 2018. He further added that only 4 countries in the world are with such a large scale – Hong Kong, Seoul, Singapore and a couple of cities in the U.S
The investor of the company is True North which was called as India Value Fund Advisors earlier. ACT Fibernet is the largest broadband provider in Hyderabad and Secunderabad with more seventy percent market share.