PLDT to invest USD559m on network expansion

16 Jun 2008

Filipino incumbent Philippine Long Distance Telephone (PLDT) plans to invest PHP25 billion (USD559 million) in its network expansion programme this year, despite predictions of a slowdown in the domestic economy as rising fuel and food prices begin to bite. PLDT chairman Manuel V Pangilinan said the CAPEX would focus on improving the company’s broadband capabilities and coverage, with the aim of extending its footprint to the hinterlands to benefits SMEs, schools, government bodies and the wider rural community there.