CVG Telecom prepares for launch

4 Nov 2005

State-run CVG Telecom has been given the go ahead by regulator Conatel to launch fixed line services in eight of Venezuela’s 24 states, a full year after the telco was incorporated. CVG Telecom will offer residential telephony and dial-up and broadband internet services in direct competition to CANTV, with a focus on under served regions. The new operator is a 40:60 joint venture between Venezuelan power utility Electricidad del Caroni (Edelca) and Corporación Venezolana de Guyana (CVG). It plans to spend a total of USD200 million on the development of a 2,500 km nationwide fibre-optic backbone. CVG officials have said the company plans to create as many as 18,000 jobs over the next three years.