The company that will deliver next generation broadband access in Cornwall and the Isles of Scilly as part of a long-awaited £130 million investment in the Duchy's infrastructure is due to be announced today.

The name has not been released ahead of the announcement, but it is widely rumoured to be BT.

The telecoms giant would not comment on speculation but did confirm that its chief executive, Ian Livingston, would be speaking at a press conference today.

Also speaking at the event will be Councillor Alec Robertson, the leader of Cornwall Council.

The scheme, which will build on the success of the Actnow project which helped businesses to access broadband, is expected to create thousands of jobs through the improvements it will bring to business productivity.

Amid the post-recession doom and gloom, and with huge public sector spending cuts on the horizon, the announcement has been warmly welcomed by businesses in Cornwall.

The scheme will be the largest single investment under the Convergence programme and will be for between 47 and 79 million euros, with a sizeable element of match funding to come from the private-sector partner.

In total, the scheme is likely to cost around £130 million.

It is not yet known what technology will be used to deliver the programme.

Options include fibre-optic connections, and wireless and satellite systems to replace the current ageing copper wire network.

It is likely that a mixture of approaches would be used with, for example, small settlements using wireless systems to avoid having to install costly cables for just a few homes.

Next generation broadband will benefit all businesses that use the internet, improving upload speeds and reliability and allowing better connection to office-based systems from remote workers.

Bernard Curren, director of the Pool Innovation Centre, which offers businesses superfast links, said improved broadband would help Cornish businesses to win work internationally. "I think it's fair to say that it puts us back into the international field," he said.

Mr Curren said that if the rest of the county was able to offer good levels of speed and reliability it would help tenants as they looked for follow-on premises in the Duchy.

"We have businesses here who, because of the connectivity, are operating internationally because the connection speeds allow them to do that. It will add to the competitive advantage of siting a business in Cornwall to have better broadband facilities," he added.

Stephen Parkinson, managing director of Pool-based SW Computers, said that superfast broadband would ensure Cornwall was "on a level playing field with the rest of the country, if not one step on".

He said: "I think it will put us ahead of a lot of areas."