RSS
Etisalat to spend $1.4bn on fibre optic network
Etisalat set to spend $1.4bn to reach 90% fibre optic network coverage of the UAE by 2011
Etisalat will extend its fibre network, and also plans to make it available to other operators.
Etisalat will invest around AED5bn ($1.36bn) to boost fibre optic coverage across the UAE by 2011, its chairman told Reuters today.
"The UAE is to be covered 90% by fibre optic network by 2011," Mohammed Hassan Omran said, from coverage of about 60% today.
Omran said the government had approved plans for Etisalat's fibre optic network to be used by other operators on a commercial basis.
Omran also said he expected better opportunities for bond issuance in 2010.
Etisalat's chief financial officer said last month that the firm was finalising a medium-term note programme targeting international markets to help finance its overseas expansion.
"It seems the market is ready and UAE companies can get good ratings," Omran said. "Financial institutions have told us there is a better environment next year."
- JOIN THE DISCUSSION
- Add Yours
