Etisalat to invest US$1.4 bn in Egyptian network

The UAE’s Etisalat plans to spend EGP 8 billion (US$1.4 billion) in its Egyptian operation, Etisalat Misr, over the next three years to fund network expansion. The announcement coincides with the milestone the operator has amassed more than 14 million customers within its first three years of services.

Chairman of Etisalat, Mohammed Omran, said the firm invested EGP 8 billion in its first three years of operation and would invest the same for the coming three years. He added that Etisalat Misr achieved in two years in Egypt what it had planned to achieve in five years and that the group’s global footprint now operates in 18 markets serving 107 million subscribers.

“We were confident of our success in the Egyptian market for many reasons including the attractive investment environment, the population size and the nature of the telecommunication sector. We planned our entry into Egypt carefully to achieve the ultimate benefit for all stakeholders including the people of Egypt. The company’s achievements exceeded all expectations in terms of subscription rates and what was targeted in the bid conditions and feasibility studies in terms of network coverage,” Omran stated.

Etisalat Misr says it has the widest and strongest coverage of 3.5G in more than 80 per cent of the county, in addition to providing HSPA+ applications which offer high internet speeds to download and transfer data. The company was the only operator in Egypt to be awarded its own international gateway license, as well as having acquired EgyNet and Nile Online to provide fixed internet services.