A £30million project that will give North Wales access to super-fast broadband has been given the green light.

Called Fiberspeed, the project is being funded both privately and publicly by the Welsh Assembly Government, European Regional Development Funds and Geo Networks.

Despite Fiberspeed costing £30million, the Welsh Assembly Government (WAG for short) believes that once in place, there will be a yearly recoup of around £29million.

200 miles of cable

The CEO of Fibrespeed, Chris Smedley, said: "Access to high speed communications has been highlighted as a critical part of success in the modern world, spanning every aspect of life from children's performance at school to businesses' ability to compete in the global economy."

He also added that: "FibreSpeed will allow North Wales to compete on a level playing field with the rest of the UK for the first time."

In all, 200 miles of fibre optic cable will be laid, reaching from Holyhead on Anglesey to Manchester, with the project estimated to take two years to complete.