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FINANCIAL NEWS
Batelco to invest USD199m over the next three years
24 Jul 2011
(MENAFN) Bahrain Telecommunications Co’s (Batelco) chief executive, Rashid Abdulla, said that the company plans to invest about USD66 million each year over the next three years on the purpose of developing the company’s infrastructure and network, reported Gulf Daily News.
Abdulla added that the sum of USD199 million would be allocated to developing broadband internet services, high value businesses and better customer services. Moreover, the improvement is meant to increase the number of customers and adding value to the current ones.
The chief executive also expressed Batelco’s beliefs that it would not gain a large increase in the number of customers in Bahrain in the near future, so the company is expanding in other markets. In that context, the CEO mentioned that the group had completed a deal recently for 25 percent stake in Zain Saudi.
Officials at Batelco said that the deal with Zain Saudi would be operative soon and would increase Batelco’s total customer base to nearly 20 million subscribers.
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