Indosat plans USD213m network expansion

19 Sep 2007

Indonesia’s second largest communications company Indosat has announced it is borrowing USD213 million from a local bank in order to fund its network expansion plans. According to Bloomberg, Indosat will use the funds to improve capacity, including the addition of 2,118 mobile phone towers in 2007, bringing the total to 8,366. The company has raised its spending plan for the current fiscal year by 20% to USD1.2 billion to combat intense sector competition. It hopes to boost its subscriber base by seven million new users in 2007, lifting its total to 24 million by the year end.

Indonesia, Indosat Ooredoo Hutchison (IOH)