CANTV lays out USD4.4 billion investment plan

12 Oct 2007

The president of Venezuelan state-owned telecoms group CANTV expects the company’s investments in 2008-13 to reach USD4.4 billion, according to BNamericas quoting local news portal Panorama Digital. Socorro Hernandez broke down the total figure into: USD200 million for long-distance backbone network expansion; nearly USD1.4 billion for fixed line telephony; and around USD2.8 billion to develop the mobile telephony services of CANTV’s subsidiary Movilnet. According to Hernandez, there will be 5.4 million Venezuelan households subscribing to fixed line telephony services in the country by 2010, whilst CANTV’s national fibre-optic backbone will stretch across 19,600km by that date. CANTV, which was re-nationalised in May, reported 3.75 million fixed lines in service at the end of June 2007, up from 3.45 million six months earlier. The country had a total of 4.22 million fixed lines at the end of 2006, according to sector regulator Conatel. Mobile network operator Movistar Venezuela, owned by Spain’s Telefonica, reported 880,000 fixed-wireless subscribers at end-2006.

Venezuela, CANTV, Movilnet