Smart Telecom will invest up to €35 million over the next five years creating fibre optic telecoms networks across the State.
The company, which has about 35,000 residential customers, said yesterday it planned to increase its customer base to 100,000 by the end of of 2004.
Smart Telecom's chief executive, Mr Oisin Fanning, made the predictions at the launch of the firm's fibre optic ring in Dublin.
The new 120-kilometre fibre ring, which has been leased from wholesale operators Broad Band Communications and Bord Gáis, will enable Smart Telecom to offer a range of services to corporate customers for the first time.
It will now compete directly against other telecoms providers such as MCI, Cable & Wireless and Esat BT in the potentially lucrative business market.
The company will also link its network to the Government's metropolitan area networks in Dublin, Galway and Letterkenny over the next few months. This should enable the firm to secure at least 50 corporate customers in the Cork area this year, according to the firm's targets.
Mr Fanning said Smart Telecom would offer a suite of advanced telecoms services to corporate customers. These include wholesale price rates to customers and new next generation internet access services.
He said Smart Telecom had also agreed to invest up to €250,000 in a project to provide internet access to 16 schools in the Dublin area using new powerline technology.
