PSINet plans $100m Europe backbone

Leading ISP PSINet is to plumb a $100 million pan-European Internet backbone. The network will be built over the next four years with the first points going live by mid-1997.

The project will be developed in tandem with telecommunications investor The Chaterjee Group, which is backed by George Soros. Plans call for the alliance - to be called PSINet Europe - to link the network with PSINet's current European operations, including Cambridge-based PSINet UK.

"The European market is enormous and growing faster than the US domestic market," said William Schrader, chairman, president and CEO of PSINet. "Our experience in Europe indicates that most businesses will make their decision to use the Internet for their data communications requirements at some point during the next three years."

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