Paltel to invest $70-80 million in 2012
Telco plans to invest in its mobile network and fibre-optic backbone
Paltel, Palestine's incumbent telecom operator, is planning to invest $70-$80 million in its fixed and mobile networks across the West Bank and Gaza in 2012, the company's CEO, Ammar Aker, told CommsMEA.
The telco will invest the funds in its mobile network and fibre, mainly to increase the capacity of its internet backbone.
Aker added that the mobile investment would be purely for 2G equipment, as the spectrum it requires to launch 3G services continues to be withheld by Israel.
Paltel, which competes with rival mobile operator Wataniya Palestine, experienced strong growth in 2011. Its net revenues grew by 9.4% to reach $522 million, while net profits rose by 5.1% to reach $128 million.