NBN Plan Scrapped; Government Seeks New Partners

The federal Government has terminated the tender process for its national broadband network project and will instead look to partners to build a $43 billion fibre to the home network. A new company, National Broadband Network Corporation, will be created to build the network. It will be jointly owned by the Government and the private sector, Prime Minister Kevin Rudd said. Mr Rudd said not one of the private bidders for the NBN’s request for proposals met the government’s requirements. None of the bids offered value for money, Mr Rudd said. The panel noted the rapid deterioration of the global economy had a significant impact on the process