New Zealand is to get a second undersea internet cable link to the United States.
The 14,000km cable should be up and running by mid-2018.
The cable will link New Zealand, the United States via Hawaii, and Australia, and would compete directly with the Southern Cross cable, which is half owned by Spark.
It is expected to cost around $500 million.
The project has been around for several years and had struggled to get money and customers.
However, telecommunications investor Malcolm Dick is now backing the project, which has been led by Dunedin businessman Sir Eion Edgar and Queenstown-based Remi Galasso.
Mr Dick said internet users should benefit from a second cable through cheaper prices and a more reliable service.