Philippine telecom firm launches US$700-M network modernization program

Philippine telecommunication giant Globe Telecom Wednesday announced a deal for a US$700-M Massive Mobile Network Modernization program with Huawai, a Chinese multinational networking and teleco equipment company.
Philippine President Benigno Aquino III attended the launching ceremony at Malacanang, the site of presidential palace.

In his message at the launching and contract signing ceremony, the president said that a healthy telecommunication leads to a healthy economy that would ultimately create more jobs and opportunities for the people.

He also thanked telecommunication company and its Chinese partners for putting their investments in the Philippines.

The modernization program, considered the most significant Globe Telecom investment in the last two decades, includes an all- IP infrastructure, pervasive 3D coverage, double fiber optics capacity, 4-D and LTE readiness, and overall quality and resiliency. The program will be rolled out nationwide within the next five years with Alcatel- Lucent managing the project.

Globe, owned by Ayala Corp. and Singapore Telecom, is pouring in at least US$570-M of the total investments this year until Y 2013, according to the project proponents.

Paul A. Ebeling, Jnr.
Paul A. Ebeling, Jnr

Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster’s Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.

Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.
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Posted by Shayne Heffernan on Feb 15th, 2012and filed underAsia, Equities, Latest News.You can follow any responses to this entry through theRSS 2.0Responses are currently closed, but you can trackback from your own site.