World VoIP NewsEtisalat invests EGP8 billion on Egyptian unit Etisalat invests EGP8 billion on Egyptian unit

Etisalat invests EGP8 billion on Egyptian unit


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UAE-based Emirates Telecommunications Corporation (Etisalat) has revealed that it is to invest around EGP8 billion (USD1.4 billion) in its Egyptian subsidiary in the three years to 2013, Reuters reports.
Commenting on the plans Etisalat chairman Mohammad Omran said: ‘Our investment in the network has reached EGP8 billion [to] date, and we expect that we will invest EGP8 billion more in the coming three years as networks expansion is a priority for the company.’ In addition, Omran said that the growth in Etisalat Misr’s had ‘exceeded all expectations in terms of subscription rates and what was targeted in the bid conditions and feasibility studies in terms of network coverage’ since launch in May 2007.

UAE-based operator group Etisalat said over the weekend it intends to spend as much as EGP8 billion (US$1.4 billion) over the next three years at its Egyptian mobile unit. The subsidiary has built a user base of some 14 million since launching three years ago, notes Dow Jones Newswires. "We have achieved during the first two years what was planned to be achieved in five years, and by the end of the third year the number of our subscribers exceeded 14 million," said Etisalat chairman Mohammad Omran in an emailed statement. The operator, which launched its Etisalat Misr unit in May 2007, had invested EGP8 billion so far in building its Egyptian network and was preparing to spend the same amount in the next three years on expanding it, Omran said. "We expect that we will invest EGP8 billion more in the coming three years as networks expansion is a priority for the company," he said.

Etisalat operates an HSPA-based 3G network in Egypt, which it claims covers more than 80 percent of the county. According to the latest Wireless Intelligence data, Etisalat had a 12 percent share of the Egyptian market in the first quarter if the year behind France Telecom’s ECMS on 45 percent and Vodafone on 43 percent. Egypt is considered one of Africa’s most lucrative mobile markets, Mobile Business Briefing reports.

According to TeleGeography’s GlobalComms Database, at end-March 2010 Etisalat Misr had just under ten million wireless customers, up 33.3% year-on-year from 7.5 million a year earlier.


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