BT is to head up a 18.06 million project to supply fibre broadband to more than 90 per cent of homes and businesses across Buckinghamshire and Hertfordshire by the end of March 2016.
The telco was awarded the deal through the Broadband Delivery UK (BDUK) framework, which will see the firm provide its support for Buckinghamshire and Hertfordshire's Connected Counties programme.
The aim of the scheme is to make fibre broadband services with speeds of up to 80Mbps available to 38,500 homes and businesses in Buckinghamshire and a further 14,000 in Hertfordshire within the next three years.
The project is also aimed at ensuring all residents in both counties have access to minimum broadband speeds of 2Mbps.
BT has agreed to stump up 8.6 million in financing for the project, while Hertfordshire County Council and Buckinghamshire County Council have agreed to contribute 1.61 million and 3.7 million, respectively.
A further 4.15 million in funding will be supplied by BDUK.
Bill Murphy, managing director of BT's Next Generation Access division, said the project should provide significant benefits for both counties.
"We're already seeing the positive impact that faster, fibre broadband is having and now, thanks to this partnership, this investment will further boost the position of the two counties as being among the leading creators of new businesses," he said.
Robert Gordon, leader of Hertfordshire County Council, said the project would provide the area with an economic boost.
"Faster broadband will boost our economy as it makes local businesses much more competitive and it is great for families who need to access multiple devices at the same time," said Gordon.
Martin Tett, Buckinghamshire County Council leader, added: "Superfast broadband has the potential to transform our economy and our lives as dramatically as the railways did for the Victorians."
