Mobilink to Invest Over $3.5bn in 2010

Mobilink, Pakistan’s market leader in cellular services and part of Orascom Telecom Holding has announced investment plans for the year 2010 bringing the total investment made by the company in Pakistan to over $3.5 billion.

The telecom giant has earmarked more than $250 million for the year 2010 for enhancement of existing infrastructure and further improvement in quality of service.  The company has already invested more than $3.3 billion in the country to date. This is the largest foreign direct investment by any cellular operator in the country.

Demonstrating upward trends in the fourth quarter of 2009, Mobilink revenues, as per local currency, showed an increase of 5.3% as compared to Q3, 2009. The improved operating performance has been positively reflected in an upgrade in the company’s ratings to ‘B-’ by Standard & Poor’s Ratings Services. According to S&P, the outlook is stable.

Mobilink President and CEO Rashid Khan said, “Operating in one of the most competitive markets in the region requires constant improvements and value additions be it in terms of offers and services or capital investment to enhance quality of service. Mobilink has maintained an aggressive posture in the wake of an overall stressful environment which has enabled us to increase subscribers and revenue while providing unmatched connectivity to our subscribers. We are also grateful to Orascom Telecom for their continued support and commitment to Pakistan.”

Supporting a 6,500 km fiber optic backbone, Mobilink is a carrier-class nationwide connecting service with a coverage footprint spanning more than 10,000 locations. The company provides unmatched coverage, connectivity and customer care to Pakistan’s largest cellular family at 31.3 million subscribers as of February 2010.

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