Etisalat to invest USD1.4bn in fibre-optic network

UAE-based telecoms operator Emirates Telecommunications Corporation (Etisalat) plans to invest around AED5 billion (USD1.36 billion) in its fibre-optic network in the next two years, ArabianBusiness reports. The company’s chairman, Mohammed Hassan Omran, said at a conference organised by London-based MEED that Etisalat hopes to boost fibre-optic network coverage to 90% of the UAE by 2011; at present coverage stands at 60% of the country. He added that the government has approved plans for Etisalat’s fibre-optic network to be used by other operators on a commercial basis. Omran also revealed that the telco sees better opportunities for bond issuance in 2010. As reported by CommsUpdate, Etisalat’s CFO, Salem al-Sharhan, told Reuters last month that the telco was finalising a bond programme to help finance overseas expansion.